I see it more as trading in a downward channel rather than a descending triangle. I would have expected to see more bounces off the 31c mark to firm up the base of the triangle (but that is just my take on it).
If you compare the CNB chart to the XAUUSD chart over a 1 year period, they are behaving in a pretty similar fashion, albeit CNB having a more aggressive downward channel than that for Gold.
CNB is now into oversold territory so hopefully we can get some sort of a base or bounce, but I am unsure what the catalyst for that will be... further results from Tick Hill diamond drilling perhaps? or confirmation of additional cash received from BIM?
Charts & Broker Data, page-419
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Last
57.0¢ |
Change
0.035(6.54%) |
Mkt cap ! $98.00M | |||
| Open | High | Low | Value | Volume |
| 54.0¢ | 57.5¢ | 53.0¢ | $891.3K | 1.593M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2000 | 56.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 57.0¢ | 35499 | 2 |
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| Last trade - 16.10pm 10/07/2024 (20 minute delay) ? |
| CNB (ASX) Chart |