big bounce due?

Gday MPOers,

Just per chance I was looking back at the STX chart on the 3YWeekly and had a look at the fairly substantial and convincing break and bounce off the long term down trend that they have had.

I dialed up MPO and saw a pretty much identical pattern repeating itself. I think the bounce on the MPO chart might be a bit softer, but it might also come sooner.

Through to the end of the month I wouldnt be surprised if we saw some consolidation under the 70-75 cent band. Once the Permian results start moving in though, if positive, we might have to grab the straps and just hang on for dear life! Suddenly $1+ is looking realistic.

I thin the market has already factored some value in for the sale of MPO QLD CSG assets so any stumbing or collapse might have a neg effect, vice a very lacklustre positive effect when/if it comes through.

Heres hoping!



Cheers,

SF