Not what we need though, sort of shows a bit of indecision about where to head next.
If it was accepted by the market that up was the go then we would have seen volume kicking in and higher spread / prices.
No test either which you would expect before it goes forward.
Kind of pussy footing around but not finding a heap of volume here is good too, potential resistance in the form of fleeing natives is lowish in this priceband too IMO.
If there was supply holding it down you would see higher volumes in this spread soaking up buyers, If it was support holding it here you would see more volume and attempts to break below 62c.
Monday the market will most probably give a decisive direction but I think this action is pretty non committal.
We need something to confirm one way or the other.
Lets hope there are no announcements next week and then we will see the state of play.
Have a good weekend Mitts.
LYC Price at posting:
62.2¢ Sentiment: LT Buy Disclosure: Held
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