As it happens in real-time ( almost anyway) OGC.ASX analysis not historical. I am paying the utmost attention to my Gold stocks, which OGC.ASX is one. I have divided the current trading range into phases where Phase C may be about to be complete. Phase C low, if lower than that of CLIMAX LOW is considered SPRING/SHAKEOUT/WASHOUT/BEAR TRAP. Where I marked as “DOUBLE SPRING ???” may be considered SPRING in relation to the current pattern as well as the next higher TF . The boundaries of the next higher TF is marked with Green UP TREND CHANNELL and the current trading range with Red support and resistance lines.
With the FLAT TRADING RANGE ( see Red support and resistance lines) if we see a new high today violating the internal Blue trend line, that would be the CREEK JUMP as well as the successful spring test.
In short : As long as the $3.09 is respected OGC.ASX and in the short term price heads towards the resistance zone of $4.80, I will follow the price. $3.70 is a minor resistance also, which may be worth noting.
I won’t get over-exited about a major potential breakout at this stage which we are way off .
Disclosure : OGC.ASX is held.
FREE chart is courtesy of tradingview.com
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