MEI Metioric Resources - WatchingHello,
on daily 50ma lower than 100 and 200, strong down trend on this with no positive divergence on macd or RSI. however the RSI is becoming oversold.
There is some longer term support between the 1.18 and 1.27 (in yellow) the last burst in the second half of 2019. this burst was a lower high than the previous one. I see this resistance as the line in the sand because after we're not far from being at zero. we should see that area tested in the coming days or weeks so we will know soon if it can hold
On the weekly we have crossed the long term trend line from the top in 2005 however I do not find any significant pattern or good trend channels/lines today for the daily. We can only wait for the long term support line and test of that area to see if it holds and print some divergence
I do see a gap between the 50 & 61.8 fib of the last move which is interesting. I will set an alert for this but today, exploration continues but no major results fundamentally
