Ok so what it implies is trend continuation has already started.
So you can see back when it dropped to 10c that was just consolidation, dam deep but that's all it was, then trend continued to 41c.
The fib ratio for the C leg down matched exactly 1.618 (yellow ABC) and then ANN came out and BOOM! ran for a week and took out the previous high.
But more importantly it ran exactly 100% of the run from 1c to 30c (blue arrow) starting at the pivot low of 10c (31c + 10c =41c (short horizontal green line)).
The set up I'm seeing now is the wave C exact turning like it did when it hit 10c low at exactly 1.618 fib retrace at 30c as well (orange ABC below).
So what this implies is a minimum TP of around 39c (which would be the 100% extension of the blue arrow) if it's a carbon copy or a possible re-rate to 44c level and beyond (which is possible based on info we know about the resource size very likely to be increased further).
I think that's the most solid view I've been able to garner from the PA since the run to 41c as it encompass all the facts we know from the great posts of the last fortnight.
If I had spotted this setup during the drop to 10c I'm pretty sure no one in their right mind would have taken it seriously either but the RR is solid this time around and I think most ppl would agree.
MK.
IVZ - Chart, page-443
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