It must be the video chart on VLCO, I have some people asking about it, yesterday and last week, but just kind of quite to get to it. Definitely a nice little break out, it makes a real, great real time example in terms of playing supports and how this 50-day set moving average acted as a trampoline here and you can see, really propelled the price upwards there. Actually, multiple times the price has come down and bounce around that 50-day, so just a good little real time example of how, it’s always important to keep your eye on this moving averages. So, as far as the chart and what’s been going on now? Obviously not the best day. But depending on what your strategy is, the chart is still actually bullish because it’s maintaining above the key levels of support that you would want to see it. But one negative attribute on it is definitely this volume bar here, usually on pull back days like this you want to see the volume small. So seeing the big time volume bar like this on this day, kind of makes you scratch your head and wonder what was going on. But the good news is, it’s going to be easy to figure out if this was just a one day type thing because all we’re gonna have to do is monitor our support levels and if they hold then this day was just kind of, some sort of cleansing. And nothing really to worry about in the broad scheme of things.


So the first level of support that was able to maintain itself today was this previous high right here. Let’s try that again, with this previous high from way back here in May, which was a high of 0.077 and then today’s low was 0.076, so congratulations to those players that camped out there and picked out some shares right here at this level of support because you got a nice bounce there. So, the first and ideal level of support, that we want to see hold is going to be right here at this 0.077. Now, if it doesn’t hold, then what I would call the must hold level is going to be based right here, at this point here which hopefully you can see where it’s coming from but we had a resistance multiple times here. Although it did not quite hit it close enough, once again close enough, resistance at this level is valued at 0.062. So, if 0.077 doesn’t hold, then the next ideal level that you would want to see hold is going to be right here at 0.062. And now the must hold level, which I already touched on earlier in the video is going to be right here at this purple moving average. Like I said, the 50-day set moving average, it has held the price multiple times. So, if the price really comes all the way down here, this is the must hold level, and after that, the chart is going to look terrible, to put it bluntly. But hopefully, these two levels of support can hold. But the reason, I know nobody, would want to see it drop all the way back down here again. But let’s say it did, hover around down here a little bit before heading back up. Well, this set of lows will be higher than this set, which is higher than this set, which is higher than this set, and then when you would connect them, that’s when you can get this uptrend line. And that’s why the 50-day has its upward slope too. It is because everytime there’s a pull back, the price does pull in a higher low. So, like I said nobody would want to see it come all the way down here. But if you’re in this for the over all chart, as long as this level can hold strong, then technically the over all trend is still up.

As far as resistance levels, we are not really goin to get into that because the key concern right now is gonna be to make sure that this pull back that started today doesn’t get out of control. And once more, how do we answer the question, is it going to get out of control? Just keep your eyes on the support levels, if they hold, you know everything is in check, if not, then that’s when you say all these support levels are crashing, things are getting out of control. So that’s why it’s so crucial to watch your support levels because it will be very revealing in terms of a kind of psychology behind the price action.