Now that TLW have received its $500mill for the sale with the FID to follow. The CMD RNS didn't prove to add anything to the SP.
It crossed the ATL of 33.5 - 35p range and was rejected.
Followed by a retest of the 0.38 of the Fib and going through a support line of 26p only to come back above, I am expecting to see the SP keep retesting the 33.5 range and probably get rejected a number of times, before I know where the SP will head afterwards.
It has been keeping within the channel that i created for a 4 yr forecast. So if it keeps within this into the next April then it could be the turning point. However if the SP crashes through the bottom of the channel, retests to get rejected then I would say the Shorters have got what they wanted.
It crossed the ATL of 33.5 - 35p range and was rejected.
Followed by a retest of the 0.38 of the Fib and going through a support line of 26p only to come back above, I am expecting to see the SP keep retesting the 33.5 range and probably get rejected a number of times, before I know where the SP will head afterwards.
It has been keeping within the channel that i created for a 4 yr forecast. So if it keeps within this into the next April then it could be the turning point. However if the SP crashes through the bottom of the channel, retests to get rejected then I would say the Shorters have got what they wanted.
As the 'probability' of it going through the bottom of the ascending channel is low IMO.