RE: Holding2 Jun 2020 08:54
I see this as forming a higher low and will see a break higher today. Some are concerned about the selling by selling by Pelham, however that simply confirms why the price was in a range last week. We do not know who has been buying, as volumes have been considerably higher for days, so that's a positive. I also think people do not realise that they will be working on increasing production and will have probably tweaked this already to find optimum levels of extraction - that news should come out in the general update/ Q&A tomorrow.
I think we are in a good position to push on today, having consolidated yesterday - those four 1m trades at 6.9p are quite telling, as the MMs must have taken their time filling them.