Saturday 20 June 2020

Not yet normal service

May saw a bullish monthly settlement back above the monthly 10MA, yet monthly momentum remains distinctly negative.

Note the blue MACD histogram. At the current rate, momentum might turn positive within August. A failure to keep recovering upward would be problematic.

More problematic would be a June settlement back under psy'3K, which would also be below the 200dma, and the monthly 10MA.