price action, page-41

The SP broke 73 cents 3 times yesterday and was sold back down within minutes with the third try cut short by the resignation announcement around 3PM. That resignation appeared to have then spooked enough holders to pretty much cap the SP into the close.

There is obviously resistance around 73 cents, probably a mixture of supply still left between 73 and 76 cents and/or some profit taking. Someone mentioned yesterday that there is history to deal with around this area too which could be part of the mix..

So we are left with a flat day, still on good volume, and a Doji which reflects indecision. A matter of waiting to see if Friday's bullish run was a one day wonder or just the first episode. The latter I hope with yesterday simply a bit of a  breather on the way. A fair bit of supply has been mopped up anyway so that helps overall.

Daily COB Feb 13th