symmetrical triangle, page-4

According to my chart we could be breaking out to the upside. Just bare in mind a large percentage of breakouts are false. So how do we know if this is a true or false breakout?? Generally, a good indicator to look at is 'volume into the the move'. Yesterday we had 1.6 million units traded and today we had 6.7 million units traded. This obviously shows the volume is increasing which may confirm a breakout to the upside. Confirmation of course will be when we have a break and hold to the upside of the triangle and on the next trading day the high of the 'breakout' day is taken out. Converseley if we had had a break and hold to the downside of the triangle and then on the next trading day the low of the 'breakout' day was taken out then I would have said we were breaking out to the down side. Hope that makes sense to everyone.

If we keep looking at the technicals something interesting to note is that the cycle lengths are pretty much equal in size. I know we can't predict the future but if we continue to where the next cycle should begin it suggests we have a couple more weeks to wait. This coincides perfectly with the fundamentals having the AGM 3 weeks away and drilling to commence in 4-5 weeks.

I've had a look for areas of STRONG support/resistance above the current sp and I can't really find any until 50 cents (Jan 08 high) and if we go higher than that 57 cents (Dec 07 high). So if we go to the upside I would suggest resistance at the price range of 50-57 cents.

For all I know the sp could go sideways or down but technically thats what I see.

Goodluck to all holders.