Real chartsLet's play the game and assume there is a isgnificant owner in Intermap who will use technicals to form a decision at this point in time, which would be completely insane. Here are the actual charts he would see, there are 3 in total, Hourly, Daily, Monthly.
IMP Hourly:
3 Things to notice:
1) No buy or sell indicators.
2) Volume is dead, liquidity is hard to come by, nothing happening.
3) Rate of change is hugging the zero line, preparing for a breakout one way or the other.. Fundamentals will cause the directional breakout, not a technical signal, to be sure.
IMP Daily:
3 Things to notice:
1) Rate of change has crossed above it's 9,14,21 DMAs, AND, is approaching a crossover of the 0 line, indicating potential reversal in very near term.
2) Using Daily data, the Volume at Price (.47-.50) Is by far the highest traded level, which is a good reason why price was able to settle here at this point in time.. Huge psychological memory, and the most important round number in this run is .50.
3) Price is approaching its 100 DMA for additional support. Given this chart, I see no sell indicators, and 'the cliff' is nothing of the sort as a drop to low 40's is minescule for this type of play.
IMP Monthly:
3 Things to notice:
1) MACD crossed above the zero line for first time in 7 years. I only use MACD on long term charts, and this cross is significant to any long term technical trader.
2) Volume at price, even with Monthly data, proves once again the <or> .50 level is the most highly traded, and has provided the highest historic activity.
3) Further to the VaP activity, we can see historically it was a sell level as year end 2012 and year end 2014 it was resistance, which has since pivoted and become our new accumulation zone on support.
In conclusion, the short term hourly chart is the visualization of the market being pateint and allowing time to pass for the outcome of these negotiations. Since this is the short term sentiment, then it's fair to assume that no SMART money will use technicals at this stage ro impact a decision. Furhtermore, if in the case I was a buyer who liked ANTICIPATING results instead of being reactionary, I would see some bullish long term indicators, and would be happy with an entry at this level due to the historical support at this price level.
Let's hope these charts upload properly.