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1) The green trend line, (support), of the rising channel was tested again this week but BLR was able to close above it each time.

"Bullish Price Channel - As long as prices advance and trade within the channel, the trend is considered bullish. The first warning of a trend change occurs when prices fall short of channel line resistance. A subsequent break below main trend line support would provide further indication of a trend change. A break above channel line resistance would be bullish and indicate an acceleration of the advance.
In a bullish price channel, some traders look to buy when prices reach main trend line support. As with most price patterns, other aspects of technical analysis should be used to confirm signals."
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:price_channel_contin

2) The longest cream volume by price line above 22c provides strong support for BLR & has reinforced the trendline 3 times in the last fortnight.

"Price by Volume plots volume horizontally on the price chart to indicate how much volume occurred at each price point. It is very useful to see where the bulk of the volume occurred in determining support and resistance."
http://www.leavittbrothers.com/education/technical_analysis/overlay_indicators/price_by_volume.cfm

3) Last Monday the MACD fell below zero. This week the DMI- 'almost' crossed the DMI+ from below which would have confirmed this sell signal.

"Once MACD crosses into negative territory, momentum, at least for the short term, has turned bearish."
http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:moving_average_conve

"To catch a trend in its early stages, you might look for stocks with ADX that advances above 20. Conversely, an ADX decline from above 40 might signal that the current trend is weakening and a trading range is developing.
As with most technical indicators, +DI/-DI crosses should be used in conjunction with other aspects of technical analysis."
http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:average_directional_

There's a number of similarities in the chart's indicators when you compare them to the last week of March.
The 'Commencement of Drilling at Taylor Ranch' announcement on April 3 was the catalyst for the ensuing price rise.
IMO similar news could see BLR back to the top of it's channel.

DYOR
Regards
Chalea