#GOLD #DOW Sirius HAD been getting painful, achieving and even breaking our prior (link) drop target at 3.3p. However… it is possible the share is now preening itself in the hope of providing a little Christmas miracle. Aside from the unpleasant detail it’s now calculating with an “ultimate” bottom of minus 17p!
However, if we leave the dreadful reality of real life aside and instead, review movements since May of this year, SXX has managed exceed the immediate downtrend (presently at 3.41255p) and thankfully has spent the last few sessions hovering just above the trend, rather than retreat below. Without a doubt, it is “fingers crossed” time as movement now above 3.9p is supposed to generate a lift to 4.3p next. As the inset highlights, it appears clear the market is reacting to the trend, so hopefully the price can find an excuse to do something positive.
If movement exceeds 4.3p on any initial upward surge, our secondary calculates at 5p.
Visually, such an ambition makes sense as it takes the share price into the region from September, when the price was manipulated downward to 4.7p. It’s the sort of price level where the market would opt to form a glass ceiling until such time Sirius’ hopes for the future improve.
Then again, there is that Minus 17p calculation. Numbers can be funny as presently, SXX actually needs above 17p to essentially cancel this Big Picture drop potential. In fact, even above 13p would regain the historical uptrend, giving considerable hope for the longer term. We’d certainly have strong concerns, if the price manages retreat below the Blue downtrend at 3.41 (as in, actually close below the trend) thanks to reversals becoming very probable. In such a scenario, last chance salon is at 1.4p.
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
10:26:15PM |
BRENT |
60.81 | |||||||||
10:28:27PM |
GOLD |
1462.79 |
1452 |
1447.5 |
1441 |
1462 |
1467 |
1469.5 |
1476 |
1456 | |
10:31:25PM |
FTSE |
7296.29 |
Success | ||||||||
10:36:49PM |
FRANCE |
5796.7 |
Success | ||||||||
10:40:35PM |
GERMANY |
12991.3 |
Suc/Sham | ||||||||
10:52:14PM |
US500 |
3113.77 |
Success | ||||||||
10:55:07PM |
DOW |
27783.4 |
27768 |
27670 |
27645 |
27848 |
27910 |
27970 |
28035 |
27800 |
Success |
10:58:41PM |
NASDAQ |
8308 |
Success | ||||||||
11:01:21PM |
JAPAN |
23177 |
Success |