Today was definitely a positive. If you go back to October of 2017 when ZN was a downtrend from its epic run back then $2.50 was the level that it stopped and held for a few days and then the price plummeted to under $2
$2.50 is a critical resistance level that was broken yesterday, and became support today.
For me I was watching to see if we would close over $2.50 which is support level which we DID !
Very significant that we closed at $2.51. Traders are definitely were definitely watching to see if we would hold over $2.50
Today was a beautiful day of consolidation. Next week really looking to see that we can again retest the 200 day moving average and hold above it. Then I think ZN will resume its uptrend running into its first resistance level at $3.50
Actually I was thinking about it. Interesting that they gave us a Press Release when they are just a few days before completing the drilling.....
Makes me think now that they will definitely be putting out another press release when they have reached total depth and cased the well. Maybe they will have a little more insight as to what they are seeing at that time in the well. That would be totally in play as they are not speculating as to if this is a commercial well, but just telling investors more details of what they are seeing.
I actually think this is a good possibility in the next report.
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