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- 28 March 2006
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Not sure who else has been watching bly but its broken through 0.36 and has been moving steadily upwards on increasing volume.
Insert from inside trader
- Buyer demand and smart money has been increasing substantially
Trade well
Lenny
Looks like SSN is on the move (Oil and gas production / exploration .. Aust and US )
Record volumes recently, especially the last 2 trading days.
If it moves through .015 it will breaking a nice saucer shape.
With the volume and consolidation yesterday and friday, the SP will have a high probability of reaching its target of .02 (inversion of the saucer) ... and quite likely more if volume continues.
Has also just moved above the moving averages on the daily and weekly charts.
(options have also had similar outstanding volumes, ... SSNO exp 31/12/12 excise at .015)
Hi sweet energy,
The question is, is that volume accumulation or distribution?
The volume is increasing at what you would call resistance?
Could this be sellers dumping their stock?
Really i would prefer to see large volume at lower prices.
You need more confirmation of demand before you can determine price action
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