American Scientific Resources (ASFX)

[OBI]

based on the chart I posted on the 19th this month. Looks like the correctional wave iv is proceeding as planned. with price having to retested two low points.

however I must admit, price can go either way at the moment. if price closes below 0.32 it would increase the chances of retesting 0.27 which was my initial lowest range expectation. as technically it is fuel not only as a result of a correction but the fact that a some what H&S looking pattern has emerged and closing below 0.32 would be the neckline needed to establish such a short term bearish action.

however on the flip side, if price can find its way higher and close above 0.40, it would ignite another buying wave and should take us right pass 0.46 and quite easily to 0.55, whether it can break higher remains to be seen and will depend on volume and buying demand. breaking higher than 0.55 would cause a phase transition and immediately create a new trading range and channel with the 0.9-1.2 within reach.

stay tuned