Consolidation, before the next leg?..
Yes we traded in a narrow zone with lower volume as well, under 1m every day. To me it looks like consolidation at this level around mid 40s. That is not bad in one sense as it sets the base and gives a platform for next rise.
.
Personally I am still holding from 33, and will hold till 40 looks like holding, something I have mentioned before. No trades for me this week, but I feel that if we can hold this play for another week, the buy top up time will come.
.
I know a lot can be driven by news. But sometimes punters take position which can push us higher. I concentrate on price action but do read every post, and I feel we are fortunate to have some posters over here with great fundamentals understanding. I feel very comfortable after reading those, knowing that is not my strength. The risk reward looks very attractive.
.
So what will happen next week? Will it be more consolidation or we get to next zone in 50s? Not sure, sometimes news or sentiment can drive sp. But to get to 50s would be good. Let's hope it happens that way. All the best.
(20min delay)