17.5 to 18 c is the current support level and it is still...

17.5 to 18 c is the current support level and it is still holding - tho starting to look a bit shaky. That said, I think we need to factor in the level of profits the bond converters seek to achieve before selling as I am guessing they will be a large proportion of the sellers. Recent evidence suggests they may stop selling under 18c.

I agree that the next likely support level below that if the shorters and manipulators get stuck in, or if the retail herd lose confidence, would be below the 16c resistance encountered back in August. There is to my eye a clear support line through that little period at 13.5c, but given the volume of sales between 14c and 16c through that period, my best guess is that if 17.5 c doesn't hold, the SP may find a fair bit of support between 14c and 15.5c.