Further consolidation?.Yes MTM gained half cent to finish at...

Further consolidation?
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Yes MTM gained half cent to finish at 18.5c. Our volume was not very high but still double than yesterday, just around 4m shares traded. We opened at 18.5, touched high of 19.5, low of 18 and finished back at 18.5. Yesterday we did 18 to 19 and back to 18 - so something similar to yesterday. But today we did with higher volume and on a higher number - so a very good progress although trading may look similar.
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ASX REE stocks too had a good day without being spectacular. Of the 26 REE stocks (list in my Weekly Report) that I track, on average across 26 stocks there was a gain of 1.5%.
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Yesterday I had written there may be more consolidation at this level. Today we saw some more of it. But what was different between yesterday and today's consolidation? I felt yesterday's consolidation was on slight weakness but today's consolidation was on strength. So very pleasing to see this. I believe a consolidation happening on strength is the first step and indicator that it is getting to make its next big move. So from that perspective its looking very good, but as usual, markets are risky so please check for yourself.
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Again as I said yesterday, it would have been better doing this close to 20, but we have not been enough in this zone - so something that needs to be done. But with each day we are getting closer to get out from here.
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Also today's finish on 18.5 is the 2nd highest finish in over 11 months - so a very good achievement and showing strength.
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Also its very clear from trading that happened recently and very evident today is that brokers are in play - I think. A lot of Chi trades used by brokers. So I am hoping that these brokers are with us and will join the journey to higher ground. They have big pockets and can make big moves - so lets hope we go in sync. Again I am hoping they also have higher aspiration. I know lot of us retail think we have started our journey and will go much higher, but I think we need these friends as well.
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So what will happen tomorrow? It would be good to have a play in 20s again. We played for couple of days before it wanted to retest support and do more consolidation. I had written few days back that 18 will now be our new support, somehow it is playing that way. I know many may be itching to have a play in 20s and possibly see a finish in 20s too. Will that happen? Lets hope so. All the best.