Don't know if anyone gives much thought to technicals, but my techo analyst thinks that we should be heading for 55c in fairly short order, and then on to 67c then above 80c.
Looks like SP is trying to break out of its ST triangle. Assuming it manages to do this technical analysis would say target is price at breakout + height of triangle.
Top of triangle is 47.2c, bottom is 30.8c so height is 16.4c. Breakout if today is 37c. Therefore target is 53.4c. But this breakout isn't taking place on higher vol so may not be valid.
See charts attached.
Techical analysis is always a bit of a black art but might give some idea of where we're heading...
Don't know if anyone gives much thought to technicals, but my...
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