SB, regarding your TA question for J…
Here is my not so professional opinion:
Overall the chart remains bullish, but there is considerable overhead resistance in the 0.01 – 0.015 range. It will take significant buying pressure to bust through that range and create new levels of support above 0.01. It will most likely take a few tries and the pps will bounce around between resistance and the rising support levels below.
What was previously resistance at 0.008 should now act as strong support. Today was a perfect example: 0.008 acted as support while 0.0105 has now been the high for two days in a row. Next major support level I see below that is 0.006 or the rising 50MA.
After the substantial move this week, I’d say there is a good chance it will trade sideways for a bit and build a new/strong base before making another major move north. As long as the support levels hold, should be the perfect set up for breaking out above 0.01.
Obviously if huge settlement news or other material events happen, all the above pretty much goes out the window. However, if there are further delays, I’d keep an eye on the support levels over the next few weeks.
