Having made the break from the 61.8% Fib and the bullish wedge on the hourly chart, Bowleven has so far failed to follow through on this. This is a cause for concern as a 123-low breakout (the break above 73.5p) should really have been supported at that 73.5p level and clearly wasn't.That said, it's just about hanging on to the very short term uptrend support from the 67.75p low so as long as that continues there's the potential for further upside.What's also slightly worrying, given the lack of follow through described above, is the possibility that this is a wave 4 up in the drop from 102p. A failure of that short term uptrend will strengthen the argument for this case and likely lead to a new low below 67.75p, perhaps towards that 62/63p area which gave a double bottom some months back. Certainly, were there to be a new...

Based on the earlier discussion about the likely need for a final wave up in this sequence after this retrace, I'm planning to go long at the channel support with a stop below the 14887 breakout level.That's quite a wide stop so it'll naturally be a very small position. Trading the indices is very risky due to the extreme leverage. Also, final waves up can be unpredictable and can fail to make new highs.Don't trade indices or FX unless you know what your doing and your risk and money management are very good Original link...

Lloyds Banking Group finally made it to the 63.4/63.8p resistance level from the significant price highs in early 2011. In addition, there appears to now be a complete wave sequence up from 21.63p.This has, so far, been a great example of an uptrend play as shown in the trendlines section of the Chart School, and also of an Elliott Wave sequence.The first big test of the bulls' strength will be if/when it tests the breakout point from the wave 3 high at 56.14p. This is where I'll close my short as it will be a support. If that gets taken out then I'll look to re-open targeting the main trendline up which stands at 49.31p today (rising daily).Stochastic is starting to turn over from heavily overbought areas and the MACD histogram looks to be about to turn negative and is clearly sloping down which suggest at least a correction is...

San Leon Energy did perform the expected bounce off the 7p breakout level, the old downtrend resistance and the 38.2% Fib but, as is often the case in a wave 2 retrace (I'm assuming those 5 waves up constitute wave 1 up of a new trend - this could be the case unless the low gets taken out), it was capped by the 23.6% Fib.It appears to now be in a consolidation period and from here I'd still expect a further drop to at least the 5.8/6p area. Stochastic is trending firmly down and MACD histogram is sloping down and has turned negative.  Original link...

Sirius has tested the 26.5p level again today. This is the level to break for a higher high which will give a 123-low breakout since the drop to 22.5p. As can be seen, there's a small ascending triangle forming here which has a target near the 30p resistance level.In fact, there's a lot of resistance ahead but it's all approximately in the same place. We have the main downtrend at 28.3p today, the gap (now filled but still resistance) and recent high at 28.75p , and the 29/30p level which stalled the rise up from 18p.Overall the pattern remains bullish with a large cup and handle nearing completion from late 2011. This has a target of c. 47p which will become active on a close above 30p. Given the quantity of resistance just ahead, it makes sense to expect a strong move if/when it gets broken so this C&H target...