RE: insight through my eyes as always12 Jan 2023 17:52
Hi Jambone and Erebus,
in relation to your reference Jambone and Erebus, yes I mentioned a retest of 1.69 which it did do, but it was not a strong enough test; if you bought at 1.69 as I mentioned and sold at this level excellent, but if you look at the chart, which I believe you struggle to understand their is not enough momentum to push higher. It requires a further retest of 1.69, and potentially a retest of the secondary level of 1.5 -1.35 to gain enough momentum.
There are many levels, I don't want you to sell, I just don't want my fellow investors to be caught out by the "dead cat bounce". I have made right calls and all targets have been hit, but as you may not understand the required support levels to create sufficient momentum need to be tested. It bounced from 1.69 to test the upside of 2, however there was not enough demand to release it past the resistance, therefore, it will retest 1.69 and potentially need the support of 1.50 to help create further upwards momentum.
Hopefully, the above explains the forecast as oppose to saying "to the moon when?"
Kind regards,