Charts & Broker Data, page-1988

Completely detached from any "results" or developments, I would say that the zone around 55 cents is important from a technical chart perspective. A break to the downside could - and not many people will like to hear this - pave the way towards 35-40 cents (there is a gap there). On the other hand, a "touch" of 55 cents and then a turn to the upside would be seen as positive (reversal formation - double bottom). A break of 72-75 cents to the upside would then free the SP and open the way towards 1.40 to 1.50 (there is also a gap there).

I currently think that an upward turn is more likely. At least if you look at the movements on the markets (copper price, interest rates etc.). In my view, there is some catching up to do - even among explorers (producers such as Glencore have risen sharply in recent days). Perhaps the belief in a "turnaround" is not yet there. But it will come. If the SP unexpectedly crumbles further, then in my view this could be an indication that "someone" wants to see the SP lower. We can then speculate about the reasons. DYOR