I bring this up to you because there was conjecture last week about the gap at 16.5c being filled. We bounced off gap resistance today with a gentle touch of 17c but no cigar......
On closer inspection of the chart I saw a gap around this level (gap 1) that was created nearly 2 years ago. It took 14 months to fill that gap and the filling of gap 1 was also the creation of gap 2. This gap then went unfilled for about 9 month. Our recent gap was gap 3 and only by its creation was gap 2 closed.
So why am I telling you this besides for the obvious curiosity value ?? I think the point is there is no need for any of us to get our knickers all in a knot about the filling of the gap......or not.
I think if there is no news on the immmediate horizon and Greece falls in a heap then the gap will get filled with extra high strength gap filler. However if Greece is a non event and we get the news we hope for then we shall soon be sipping cocktails and with a carefree wave of the hand we will be making casual references to "that breakaway gap at 16.5c"
EXE Price at posting:
18.0¢ Sentiment: LT Buy Disclosure: Held
