Hope people don't mind me starting a new thread here on the technicals - especially as we are starting from scratch again off the all-time lows and looking for a new bull trend to potentially begin (hopefully !!).
For now, it's all pretty straightforward - the 1.5c - 1.6c price zone is an old support zone stemming back to 2016. So it's now acting as major resistance and in my view, this is a key area. Basically from here to start seeing some smooth sailing north, we need to witness price close at 1.7c or above - ideally on an end of week basis to provide confidence. When price tries to break strong resistance in any market, it generally sees the first attempt fail - we saw this in April. So we are now seeing price action making a second attempt at it. I will be pretty stoked on any end of week close at 1.7c for two reasons - the first is that it will be technically significant / the second is that this is my breakeven number !!! LOL !! E.
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