Paul, that would be like me asking you what do the fundamentals tell you about price predictions over the next 1 month, 6 month or long term? Let's be honest, no-one has a conclusive idea therefore we can only base our knowledge on probabilities.
Now the decent fundies here feel the probabilities are good. I have no problem with that as I wouldn't have a clue. If the SP never fell below the support zone in my chart then technically the probabilities are good for higher prices as well. If that support zone failed then all bets are off. Get above resistance at .125 on volume (you're going to need traders but don't tell The Mechanic) well then you're off to the races.
Yesterday you had an indecisive spinning top candle indicating that the market is 50/50 on which way it wants to go but you have a bollie band squeeze going on currently so there's going to be a breakout either way incoming over the short term. See the yellow circle for what happened with the last squeeze.
Now yesterday you only had 3 mill units traded for a value of $227k and that was greater volume than the last 2 weeks. So Paul on a down day you had distribution not accumulation with a VWAP of just under .078. The trading analysis tells the story of the days sentiment clearly. And remember that this was a big day.
So why the very poor technicals if the funnymentals are so encouraging? A few things spring to mind. Does OZM have any money, meaning is there a CR incoming? The course of sales is more retail dominated compared to algo trading bots therefore why is retail offering supply? What do they know?
The one great positive popular theory is that the market is happy to see it lower to accumulate a better entry for what's ahead?
For now all you can do is see how the market plays it next week.
All the best.
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