Classic close for the day! Just dropping broker data (from Jan 2024) here so people are acutely aware of what's causing the sp gyrations - it's largely Euroz playing games again in that circa 0.021-0.023 range (yes, net sellers in Jan), despite their report indicating a speculative price target of 0.04 (pre-drill). The unusual trading patterns we are seeing in the 0.02-0.022 range (where we are now) is largely (imo) creating a situation intended to cause people to sell their positions by placing a trickle of overhead pressure (..for every seller there is a buyer). Some big catalysts coming up over next few months.
Jan 2024:
FEB 2024 (to date) broker data:- Again Euroz playing games in the 0.023 range in Feb 2024 (yes, that was them that suddenly stacked the 0.023 line earlier in month). I have no doubt they are wildly bullish, but, this is how brokers typically make money (between the lines). A few catalysts (and increased certainty - ie, WDS confirmed farmin + spud timeline), and sp will run (probably to circa 0.030-0.040 range) - again all IMO. Until then brokers have a habit of praying on uncertainty. Patience.
(20min delay)