gees, that's some good determination on Fri arvo here, trying to...

gees, that's some good determination on Fri arvo here, trying to close it at or above 2c. Closing above 1.9c (the previous key resistance) will be very telling for next week. The trader selling pressure at this level should be a lot less than sub2c. As I mentioned in my charts, the SP has been hanging around sub 2c for yrs, so if there were any significant stale holders from past, they would'v been well & truly flushed out at sub 2c already. Replacing them are a new "breed" (lol) of traders or holders who (despite the tendency to take profits) should on average have longer term views than those stale holders who have been holding this for years. As a result, there should be more momentum from 2c onwards if it is to make a move.

Also holding very strong on a Fri makes me think that an ann could be just a couple of days away (ie, early next week)? Many dont wanna miss out here by the looks. If u sell out, it may go back to test support at 1.8, so that's only 2 pips (& u may not even be able to pick up at 1.8 anyway - have to wait in the queue), but if ann comes out from left field on Mon/Tue/Wed morning, u could be missing a couple of cents gain here. Too much risk for the sake of a couple of ticks IMO, especially when the next ann is perceived to be the ONE, which could include a lot of info with substance.

Have a good weekend all. GL next week
JL