Oh boy, this isn’t going to be popular! You setting me up?
Look there is but not all that strong. From early November, the SP broke away from early $12’s so of course retracing the entire way is always on the cards as with many Bios recently. But the main attraction at the level you’re suggesting (like the way I did that?) is the 200ema is there and is horizontally level with a major breakout level and a support level. Refer to the weekly chart I posted here a few days ago. https://hotcopper.com.au/posts/76637947/single And yeah there’s a gap there but other indicators trump that but in combination it stacks up.
Cheers.
Ps. Just look how the sector is being bent over currently. Nothing surprises these days.
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