sell depth, page-22

boysy1,

a bit like waiting for the baby to come,

squeezed between 0.089 and 0.092,
very narrow range, something has to give,
volume up on yesterday by 400%,
showing support resilience at 0.089
which is roughly a 23.6 fib retracement of the
move up, makes you think of a bit of professional
vacuum cleaning going on.

the end of the bit should be well into the
pay zone by now, it's just a question of
whether or not the high pay zone meterage will
exceed the 250 m of the first bore.

given that the information gained on the first one
will be used as a guide to give the best outcome
on the current one,that's more than likely.

the bit should by now be well past the midway point
and the mud being analysed for hydrocarbons.
they can probably guesstimate the results of the first drill
for the daily flow probabilities, but that wont be released
until it's actually flowing.

the sp chartwise is looking ok as we are above key moving averages on the weekly and the daily charts.

on the prorealtime charts which have free eod charts,
the weekly is showing the 100 wma and the 195 wma being squeezed together at the current sp, so either it's going
to prove itself a hard nut to bust up thru' or a strong support level.

the daily is showing the 41 dma having crossed both

the 100dma
and the 195 dma which is indicative of strength.

all eyes on the s&p 500 for a clear signal north
and i think we will be off to the races!

good luck all
macgee