A nice big line wipe before close took out all of the 5.2m...

A nice big line wipe before close took out all of the 5.2m shares at 2.9c and a bullish close of 3c.

Tested 2.7c early in the day and after the whole market fears from the US bank collapse which has since been calmed, many expected a potentially larger drop.

2.7c was tested and rejcted, with only $9,353 (346,393 shares) traded at that level and rejected strongly with buyers taking out 2.8c and 2.9c strongly, the 2.7c level was a key support level from the last drop in 2021 where it served as a base for what became a bull run for IXR.

Closing at 3c gives a strong hammer candle and the long wick rejecting the lower prices further enforces the bullish nature of today's trading and strength in the day. Will need further day of strong volume and price, but may see it test current levels more before any last sellers are flushed out.

3.5c becomes the first short term target and will act as a resistance level, but with incoming news expected that will help de-risk the project further with the Mining License as stated by management on track to be granted by end of March so I expect an announcement likely first week of April the latest and I believe that will also trigger the increase to 60% ownership for IXR with the remaining 40% in discussions still to obtain 100%.

From a trading point, it was a good day and not the horrible sell off many including myself potentially expected on the back of the US news and broader markets and that hammer candle is a very strong and bullish signal and as stated in previous posts the MACD Divergence is a key bullish pattern, has been developing since the drop from 9.8c but has no real time frame other than a bullish indicator that a share price is currently oversold.

Lets see how the rest of the week goes.