chart analysis, page-107

Hi Ben, I have tried to answer all your questions...


look at the volume on the 2.2c attempts...

This volume represents trapped holders that will want to get out at or around a break even or slight profit price, this is IMO at the 2.2c area...
The test bar we had last week was testing to see if the floating supply of sellers at that price range 1.9-2c had been absorbed...the test proved successful...

When we have a confirmed breakout of the 2.2c price, this area will also be tested for supply down the track, I will be looking for a test bar to appear somewhere between 2.2c and 3.1ish cent price range.
After we see that happen the 2.2c resistance will become very strong support, and we will be ready to push a break of the 3.1c range...so on and so forth...
All while keeping an eye out for weak bars that could serve a case for re testing...

Look at the volume in the last nine bars, this is the kind of volume we have had to absorb under 2.2c...


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That being said, it is not hard for smart money to control a price while they accumulate/distribute stock...
VSA tracks the footprints of these big players...

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That being said, lack of speculation in the market these days has made it very hard for any spec stock to gain momentum. The European crisis and general market sentiment doesn't help this...


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That being said, spec oilers are largely fundamentally driven and therefore ggp can only go so long before the cards are laid on the table...
Ongoing positive announcements can't be ignored forever...
This company is weeks away from becoming cash flow positive and hopefully self funding all future drills...
The company/independent valuations can't be far away either...these will be interesting...