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SLE daily 11/06/13

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San Leon formed an inside bar yesterday as shown in the highlighted circle. The usual way to trade these is in the direction that it moves out from the inside bar (with stops outside the limits of the covering bar).

There appears to have been a nice 3 wave correction down to the 5.8p support and that area is now key - it needs to stay above there to avoid lower prices.

On the upside, the level to watch is 6.75p - a close above that should signal a confirmation that the correction is over and higher prices should follow.
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Guest Friday, 16 November 2018