May posted yet another inside day today, amidst little volume to move it around. Prices are trying to establish themselves in a 52—54 cent range, as it appears for now the 54.00 area is a brick wall of co-operative selling.
The 9 day moving average is sloping up which indicates short term strength, whilst the 50 day moving is still in decline at 54.73, which does another layer of heavy resistance, but there is enough momentum (RSI at 50.76) to indicate more stair stepping higher for now.
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