MLD
MACA LTD is at the end of its run.Impressive run there from a commodities miner, yet may be due for a pivot soon. If we cross the skyline in teal, we are due for further gains. My aim is at Fibonacci extension 1.2 if that happens. Otherwise we are ABC correcting to 0.618 retrace of impulse. If you're going akimbo, make sure you come packing. Not financial advice.
MLD.ASX Hammer Reversal off a Long Term Trend LineA quick little pop above a long term trend line has retraced and proven the breakout has in fact occurred by return to the trend line from which it broke above. The fat red candle and the fat green candle border some sort of consolidation zone which must have acted as a reversal point. I will be looking for the price action to get above where I have set my stop line before getting into the trade. Once above that mark the trade is active I would presume this is going to begin to trend upwards. First towards the green trend line and the 20 weekly MA. Then potentially as far as closing the gap up at 2.130. Maybe its optimistic but lets wait and see if we can get a trend line to begin so we can trade this thing up with a trend line.
