While Im not big on Charts and patterns, in this case I think its very important considering the bullish setup we have in the gold and the M&A activity in Copper. We are at the very apex of descending triangle so the next few days or maybe weeks will be interesting.
Resistance Line (Descending Trendline): The stock has consistently formed lower highs, descending from approximately A$0.63 in October 2024 to around A$0.40 by May 2025.
Support Level: The price has tested the A$0.375 level multiple times, indicating a strong support zone. This pattern suggests that sellers are becoming more aggressive, pushing prices lower, while buyers are maintaining a specific support level.Volume Trends: Shows a general decline during the formation of the descending triangle, which is typical as the pattern develops.
Bearish Breakdown: A decisive close below the A$0.375 support level, especially with increased volume, could signal a continuation of the downtrend.Bullish Reversal: If the stock breaks above the descending trendline (currently around A$0.40), it may indicate a potential reversal, especially if supported by strong volume.
The APEX: We are now in the final 10–15% of the triangle's lifespan — where breakouts are most likely to occur. In technical analysis, prices typically breaks out or down within 70–80% of the triangle’s time span, not at the very tip. That’s exactly where we are now — suggesting that a decisive move is imminent (possibly within days to a couple weeks).
(20min delay)