Strange ole day yesterday, brilliant FA announcement BTW, certainly blew away my expectation !!
Thinking about it logically from my brain perspective why SP fizzled, maybe some of the announcement was already priced in and also because the jorc was mainly based on INFERRED , not INDICATED, so markets want to see some infill drilling to prove up that 200m number, plus you would have folk selling into the news anyway..............markets are fickle beasts.
So where will SP go now ?
Considering SP is still high within the billie bands and it appears that the RSI 14 and MACD look to be turning over, we may see SP back test the 23 fib support @5.90 given we are unlikely to see any news flow for a while until infill drilling plus results, thats assuming we dont have news with the other projects too.
Accordingly , i have reduced some of my holdings to reflect that scenario.
Just my take
IMO
Strange ole day yesterday, brilliant FA announcement BTW,...
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