So back to the TA...and this one should go down like a lead...

So back to the TA...and this one should go down like a lead balloon by the looks of it lol. I'm going to go against the general consensus and suggest that scenario 2 that h00ts has kindly provided us is probably the more likely scenario.

In my enthusiasm I have wanted to ignore one glaring and important indicator that is not supporting the rest and that is the volume...FMF has also pointed this out. H00ts mentioned the 15day ma and it is currently sitting with the 20day ma (red line in middle of bollies) which has been providing support so far and is currently at 4.5. My crystal ball says we might be in for a slow(ish) news period except maybe a commencement of drilling announcement followed by a wait for results.

IMO this is not necessarily a bad thing and we have support lines between 4.7 - 5 (4.8 on the weekly) which will build a solid foundation for a rise....also not a bad time for top ups and even to buy back in if one were so inclined.
On the speculation of some decent drill hits I'd also be with the general consensus of us going to the 100 fib extension in the 8's but if we continue rising without substantial news 6.7-6.9 is my next target.

As usual could be 100% wrong but speculation is the game and I'd be a happy man if we are in the 8's next week...so grains of salt for every reader and dyor.

/End rant.