Hi Team I'm really liking what's unfolding here, all timeframes...

Hi Team

I'm really liking what's unfolding here, all timeframes are looking good but I think the weekly paints the best picture. I've kept this chart pretty basic, it includes an extension of the pennant continuation pattern, an extension of the range from the lows to the January highs, extended from 2.2c and a retracement to back-up the latter extension which illustrates a shallow retracement of around 50%.

I especially like the volume to price relationship, it's really clean. The false break in March fooled me into an entry but I've not hit stop and I'm considering averaging down this week as we've now established support at 2.8c and I believe the probability of a move up is greater than a further decline.

I think the 3.4c resistance is going to be the hardest to break, if we break that convincingly, 4.2c won't hold at all, next stop could be 5.7-7c.

On the downside, 2.4c would be where I would turn bearish and 2c would be a show stopper.