supply

I'm really surprised at this supply zone around 9c.
The break past and close above 7.5c was the technical buy signal but nothing shows up that 9c was going to be such a difficult proposition. The amount of supply especially hanging off screen has been pretty persistent. Everything is still looking very positive IMO and there is a buyer matching all this - at least for the moment which is good to see. Short term momentum is on our side so still looking for a push up to 10c and beyond be it 9.5c is a clear resistance point first. She's a plodder that's for sure. Supply weakens considerably above 15c though so it should move quite quickly if it can eventually conquer all the hurdles leading up to 15c and the likely retests of this price area post any breakout. An impatient buyer needed to clear the decks - ideally pre anything major being announced . E