Able to construct a weekly trend line now that it has 3 touches but wouldn't place to much credence on it considering the current uncertainty with the SP. Not much else to do on a rainy morning.
I have highlighted the recent area around 63 cents which seems a tough nut to crack with a number of attempts over the past few weeks. The 4C gap on the week beginning Monday August 1st does show on the weekly for a change, since it was a Monday event. The 4C miss seems to have a lot to answer for since. The price action has been compressed in the area below there since and it is a battle to get out. Maybe just too much supply accumulated and holder patience being tested as time goes by keeps refreshing the available supply.
Weekly COB Friday September 21st
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