I am thinking - and remember this is me guessing from the TA and...

I am thinking - and remember this is me guessing from the TA and pattern matching so treat it as entertainment not advice - it will come back a bit more tomorrow maybe 83'ish (at the outside 81'ish on Monday) and then if it follows C it should climb to about the +20% mark (give or take a couple of %). After that depends on news and other factors, but a pull back of some sort would fit the pattern in second half of Jan. If it breaks 81 then we switch to D with a lower near term peak starting after 16 - but a possibly stronger more certain rise given that would break the lower RSI 30% mark. Now what is interesting here is the buy wall which is pretty unrelenting, but could be shorts buying back in which case it will just vanish at some stage - which could be around 81. On the other hand, the shorts are near their all time high and are looking pretty tapped out, and traders like me are probably yet to come in (or at least yet to come in fully) which could almost double the wall. At the moment it is costing them over 1m shares to get 1c which is a lot of shares to get a small gain and are really only moving when the buyers let them, but then they aren't really trying that hard either. The better strategy for the shorts would seem to be to let it run back up buying on the rise and then try again after the 20% point and make another gain over the same range rather than keep fighting it out at these levels. Having said that, if shorts are indeed re-buying that doesn't take the shares out of the system but rather allows them to be relent and re-shorted.

They have months of opportunity left so it would seem foolish to exhaust themselves at these levels when there is probably only about 20c left before it becomes almost impossible to make gains. If they were at a lower % it would be a different story, but they seem to have a ceiling of about 17-18% of cap before they run out of shares to borrow - based on previous behaviour - and we are pretty much at that now.

The tricky bit now is deciding which pattern is the one that reigns as the two patterns have buy prices spread over almost a 10c range representing a good 12-15% of the SP and a sizable chunk of the expected short term gain. If it goes green tomorrow I would say the rise has started, but we are now in the trade range, I believe.

Now one word of caution: sometimes the pattern of the last four days is followed by a big drop but on those occasions we haven't had the buy wall and the shorts have not been at these levels, and the RSI has been a lot higher. We are currently in the reversal range of the RSI. Obviously the ASX200 announcement tomorrow is the wildcard - if GXY is not dropped I think C becomes highly likely, possibly even starting in the afternoon. At the moment I think it is following C.