Ann: Syrah Achieves Significant Graphite Concentrate Upgrade-SYR.AX, page-14

I have $4.52 as the immediate soft resistance that price needs to close above and today was the perfect opportunity. A bullish general market condition and some good new. Unfortunately it was met with selling on the price spike.

Check shortman short volume and the bears are not letting this one go just yet. In a way I can understand the logic. SYR has entered the most dangerous phase of its cycle, mine building which has the most -ve news impact from cost blowout to technical difficulties etc. This conditions apply to every Spec transforming to producer status.

If management can navigate through a problem free phase then LT holders will be rewarded. Graphite is still a very new to me so I am only using charts to plot the path to my fate with exposure. It has stood the test of time while its peers were collapsing so that is a good start.

The real level of $4.69 is where I eventually want to see price close above preferably weekly TF before I start contemplating averaging in.