Usually you get a dropping of volume just prior to a breakout there are two lines the 3.7c support line and the descending trend-line which intersects the high points since the spike...
There is now very little room to move within this area and pressure must be building one way of the other for a break. I have ruled out the existence of a descending triangle based on the fact that the price action should never reach the apex of a triangle before breakdown.. we are now at the apex. ....
Commonsense built around the fundamental story should tell you that the descending trend line is the one at most risk of being broken...here ...
I think it is likely that the time to enter at these levels is fast evaporating ...
Drilling is expected to complete on phase 1 next week. At that point they may announce preliminary results IE Visual interpretations of intersections.
But as always time will tell. All Is IMHO DYOR
NMR Price at posting:
3.8¢ Sentiment: Hold Disclosure: Held
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