$92e This is not a bullish chart BUT....
Its a Uranium Explorer, which makes its extremely volatile and prone to huge price movements just like back in August 2021 it moved 430 % in 5 weeks. Explosive,
At the moment 2021 Yearly OPEN and the 2022 Yearly low are CAPPING the price action. This level has acted as an S/R level 6 times on the weekly TF and is being respected greatly. SO we have to take notice.
What's interesting to me is the volume has picked up greatly since July 23 once that Key level broke. I think this is starting a capitulation phase and the question you need to ask yourself is. Who is on the opposite side of the selling pressure under this level.
Im personally looking to accumulate a small position in this under this key level, and More if it breaks above the "breakout" line marked on the chart.
But like before it may just go and go hard and not give the opportunity to ape in on the breakout.
This thing is extremely risky so if all gets lost well so be it. Prudent risk management is key and to not oversize.
92E
$92e Energy Limited92e currently trading below that important daily range low. Previously a move above this range low and re-claim saw the market move higher.
Bullish Scenario:
-Double Bottom
-RSI Small Bull Div
-MACD Big Bull Div
Plan:
looking for entry at @425 or below as i think it will be the backtest of this double bottom pattern that played out in the past.
If market does not give this backtest then P2an 2 will be to buy the re-claim of that important daily range low @ 485
Protection:
if market trade's below that double bottom @380 its time to jump ship and reevaluate the next plan.. A quick dip below 380 and re-claim of MAY 21 AYH level will give me a signal to enter again.
Hope this helps.
