The five year chart shows that there is a very strong support and resistance line at 2 cents.
IMO if the 2 cent resistance level is broken and becomes a support it could then test 2.5 cents and then 3 cents. If it breaks 3 cents, there is not much historical resistance until 5 cents.
Of course there has been some dilution over recent years due to capital raisings however these psychological price barriers do stick in people's minds.
In fact the 1.5 cent level where the price sits today was tested and broken a few days ago, but then it pulled back and IMO this level could become a support level this week which will confirm that a test of 2 cents is imminent.
This, along with news that should come re iron ore, gold and tin should IMO drive the sp up.
CFR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
