Today's SP movement is only the beginning in my opinion.I won't...

Today's SP movement is only the beginning in my opinion.

I won't bother speaking from a FA point of view here, as there are plenty of people more versed than I to speak to the fundamentals of W2V than I.

However, I will try and speak from a TA perspective.

The pullback here to .017 towards the end of close was fantastic, it both resets the RSI, but also demonstrates on the eventuate push through, a new floor at .017 driving greater confidence back to the buyers.

The clear resistance points for me are not aware are 0.02, 0.025 and then 0.03. In my eyes .02 should be cleared very shorlty now the 20MA has been broken on the 30min and 1hr, with a break of .018 breaking it on the daily. For me the bigger resistance ST is breaking that .018 and it holding on the daily. If that occurs and holds, 0.02 and 0.025 will come pretty quickly along with volume.

Finally, the rise on low volume is fantastic from a ST to LT point of view. It builds both a strong TA base, but also a firm and tighter registry as less traders are able to flip it. Obviously volume will allow the highs of .039 to come down, but at these levels I would rather see smaller volume on the way up before the resistance levels.

This of course is just my opinion.