symmetrical tri + Doji Formation + Heiken Ashi weakness1) Doji formation 22/1/16 indicating further indecision after then big bearish candle.
2) MACD (3.7.3) looks to be crossing over to the positive
3) Heiken Ashi bars show weakness in the bearish move and possible reversal
4) price has broken out of black line channel but seems to be bound by the green lined symmetrical triangle.
5) Stochastic and on balance volume is strong indicating the same will happen with the share price which has been pushed lower on weak volumes.
6) Fundamentally, shipping and cheque exchange will happen in the remaining 9 days of December along with 150% more profits in lithium price and better profits from a strong and strengthening US Dollar.
GXY
onward and upwardsGap up on the 8th of Decemeber closed out and a fakeout of the channel to 46c... up we go from here.
Today we will close above 46.5c within the current rising channel.
Solid last chance buying opportunity here in the old area of consolidation my friends.
note the brown trendline from the april to june highs matching up perfectly with current trend and cup pattern estimate
GXY currently in previous consolidation zone + Forks Purple lines indicate previous consolidation zone in JUL/AUG. Forks show a nice upwards trend hovering at the upper prongs 50% level and the black support line seems to be holding up well too. All systems go here when we pass the 49-50c area to the depth of the cup and handle pattern indication of 66c
