resistance at 80c?, page-14

as some bloke quoted the other day "like 99.99% of posters on HC, I have no friggin' idea as to why things go up or down!"

There is always some level of disconnect between markets and how they behave and their drivers, being the underlying economic fundamentals. Other variables that impact on prices would be sentiment, confidence, TA, etc.etc. etc. and I'm sure guys much smarter than me have written reams about the variables and how they interact.

At it's most simple, I would reckon
1. the earnings yield and the steady revenue flow supporting it is causing momentum to build and the analyst community have picked that up in their research, most predicting E of 8 and lots of punters would screen for that
2. the dollar weakness adding to E
3. the prospect of SP cap gains as other products come on stream has drawn in a few buyers too
4. from a TA perspective it ticks boxes galore

so, agreed, interesting day today with the futures up 40 points as to whether we crash on through resistance or retread back to the old trend....