Closes between 2.6-2.8c right now without some other decent fundamental news will be the peak in this pattern (just how it is unfortunately).. Maybe 2.9c (first resistance point) will be touched again before Monday next week as sentiment is in the green, and the Bollinger squeeze signalled off yesterday, but it’s touch and go..
Good news is the downtrend strength is breaking down, but it will need some more volume and another 5-7 trading days of sustained 2.6-2.8c closes in the channel (any closes above this will shorten the time).. If it does, then an uptrend should form around 10/13 March and put pressure on the current 2.9-3c resistance points..
Maybe the half year report will be the fundamental catalyst to keep the momentum going? Who knows what else is around the corner, a left field would be nice
ICG Price at posting:
2.8¢ Sentiment: Hold Disclosure: Held
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