I've got one word for you.........
CONSOLIDATION
That is what has been going on this week. We ended last week at 21c, and opened this week at 21.5c. Since then we have traded sideways in a consolidation, just below resistance.
It is very clear that the buyer/s are mopping up any tax loss selling supply but also realise that time is on their side and they dont have to chase price. I wonder how much of the sell orders above are real or just caps?
Any sense that supply is drying up could see the price surge, taking out the resistance area posted in my previous post.
Patience.
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