For the first time in quite some time we have seen it drop below that longer term bullish trend. Albeit on low volume, it has started to test below 9c again after failing to breakout. I can see it continuing to test below 9c next week, especially with continued market uncertainty. Over the course of the next few months I am still quite bulish on it from here. Continued increasing interest in the area, with the initial mining just about to start. Positive mining results could provide a large re-rate, but it does need those results to be good with high expectation all around.
That said the chart is not too flash at this very moment. What I am looking for in an increase of buying next week, but the continued market uncertainty is not going to make that easy. Weekly outlook is uncertain, but a quick bounce into the 9's would be very positive. Longer term looks stronger.
Disclousre: I hold shares in ASX:4CE.
That said the chart is not too flash at this very moment. What I am looking for in an increase of buying next week, but the continued market uncertainty is not going to make that easy. Weekly outlook is uncertain, but a quick bounce into the 9's would be very positive. Longer term looks stronger.
Disclousre: I hold shares in ASX:4CE.