GSS Energy Ltd – Daily timeframe
Current Sentiment: Bullish
Support 1: 0.080 Resistance 1: 0.093
Support 2: 0.078 Resistance 2: 0.100
Price has bottomed out since July 2016 as the crossover between the 20 and 60 day moving average to the upside on 15/09/16 confirms the current uptrend. There was a sharp pullback recently off the 0.107 resistance area but the support off the 50% Fibonacci Retracement area and 0.069 support area was strong enough to halt the move. Moreover, the 20 day moving average managed to stay well above the 60 day moving average indicates the uptrend is still intact. The surging volume bullish break above the downtrend line on 12/12/16 suggests the resumption of the uptrend next.
Expect price to rise next to test the 0.100 resistance area followed by 0.107.
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