Morning all.
We are now moving into the last week of the Financial year.
July usually witnesses a turn in sentiment.
The threat of war could disrupt things a little but this chart below can indicate the move in the coming week or so.
We know that we are very close to having the electrical complete which means unrestricted mining and drilling.
That is very close and could be as early as next week also.
The chart tells me that there is still some downside pressure but is will be limited imho, (I am guessing 25c).
It could bounce from the green 50ma.
If it falls below the Green Line, I would then expect a bounce from the intersection of the White and Yellow lines IF it makes it that far, (23.5c).
Any positive news and all bets are off as I think it will move higher on anything that suggests full mining is underway.
The histogram below also showing the same, (both within the Red Circles).
Time to exercise some patience and I expect to see better times in the second half of the year.
Kind regards, Wack
(20min delay)