Yes, it is forming a lower high but it did not form a lower low and in fact today's candle is a bullish harami.

If today's low is broken, it may correct to the support line but as long as it is within the bullish flag pattern and does not break below the support, there is a possiblity of a continuation of the bullish flag pattern (see my chart analysis below).

The above is just my view and I may be right or wrong, so dyodd n BOSAYOR.

ka-ching      ( Date: 12-Oct-2009 22:36) Posted: The price has rebounded off the 20dMA and forming a lower high. Possible reversing of the uptrend. Tomorrow will confirm. If it takes on a new high the the uptrend is strong. Just my 2 cents worth.

Analyse the fact:

Late last month, CB&I had been awarded a contract valued approx US$550 million by Chevron for the LNG and condensate storage tanks at the Gorgon LNG project. Australian fabricators are linked to CB&I & may have a role to play. Australian companies such as Ausclad AGC, United Resources, Fremantle Steel, Park Engineers and Steelplan had formed alliance several years ago to bid for Gorgon as well as other Australian LNG projects.

CB&I is currently building the 220,000 cubic metre LNG tank and three condensate tanks for Australia's Pluto LNG project. Ausclad currently provides construction support activities related to the Pluto LNG process facility.

LNG storage tanks & condensate tanks for Gorgon are the only major Gorgon construction contract that is non-modularised, meaning they will be built in situ on Barrow Island rather than at a foreign shipyard and transported to thesite. Hence, the current news about Hyundai being a front runner is not related/ is neutral, as Ausclad is probably not bidding for the same contract.

Digest this fact, perhaps there is still hope. Pls do your own further reading & analysis.