Good morning all and congratulations as the SP has closed on...

Good morning all and congratulations as the SP has closed on both it’s daily high and 52wk high.

As part of trading rules, a close on daily high is generally followed by a further rise the next trading day. Time will tell if this is the case.

I’d like to share my observations basedon the chart as posters feel the SP is getting a bit out of hand. Do I agree? I’mnot entirely sure based on the following reasons. Firstly, someone posted saying we will see an ‘almighty fall in the SP’ if the first set of assays are poor… ok? Isn’t that how investing in a speccy works? Friendly reminder these assays are based on the ‘lower priority targets’, although investors appear to be focusing on the bigger picture.

Let’s have a look at the current weekly chart and comments I’ve made in yellow. In summary, we are witnessing people willing to purchase large parcels at these prices in comparison to the past, where shares were being sold down.

Back in October 2022, I shared the below chart which had two zones. The green zone identified the range the SP was doing a lot of work in and the red zone started from 47cto 76c. Back then I was under the impression (and still am) if 47c cracks, we should rally to the high 70s as there is no convincing resistance until we reach around 76c (top of the red zone). I have to say, this Is not guaranteed, especially if the next announcement isn’t up to market standards. My comment is purely based on what I see on my chart.

GLTA

** Edit - Sorry for the inconsistent font text and size...