A channel is building on the daily between 51.5 low and the recent 58.5 cent high on September 6th. This sort of ranging/consolidating SP is really ideal for mopping up supply and also providing buying opportunities as the price moves between the intraday support and resistance levels.
Re the BP 10 cent punt - I would hazard a guess and suggest someone over there has looked at the bigger picture and punted on a completion of the head ands shoulders pattern to take the SP back to the 10 cent start of the move in August 2014. It would be very surprising if so and I wouldn't be losing too much sleep over it.
AJX Price at posting:
54.5¢ Sentiment: Buy Disclosure: Held
