The SP has been generally moving up since the 2015/16 lows. Each dip has been followed by a move up. This current dip has been way more severe than previous dips. There is however a gap to close between 21 and 22.5 cents. There is also some resistance around 18/18.5 cents. Weekly chart used.
If we get some good news I would be looking at a quick move to 18.5 and follow through to 22 cents and then to further resistance at 24.5 cents at previous recent highs. Great news and it keeps going.
It all depends how good the news is.
Unloved, page-36
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