Progress Update

If it breaks below 0.35 then the thesis is broken and will have to re assess. I would think it should retrace to test the 15sma (white line) and then push on up further. You could trade this (small token position) if you were an agressive trader an put your stop loss slightly below the last bottom @ 0.35 however I like to see more confirmation before entering. For a far more confindent trade you would enter after it leaves the zone ii box going higher (thats a while to go yet). Bounced out of my last target nicely though (promising). How good is the weather her in Sydney. Wow

5 Days ago I mention COB was in for a drop. So far its playing out nicely. I still think it has a Little further to drop as you can see my 1st set of targets. Ill keep this up to date as it plays out.

Also looks like COB's on the move after possibly hitting the bottom. Ill be watching this one also too.

EDIT:

Actually for a little more detail here. I see todays 20% approx jump to be a very extended 5th wave up so Im now looking for a retrace to @ least 0.35c. If it drops further which it really should look at 0.32c and then 0.28c for the next levels down to turn around. Ill know better as time goes. Of course it could completely break and go lower. Let you know what I see on its journey down.

Announvement by Federal Gov awarding Cobalt Blue a "Major project Status" meaning Gov will grant fund support for the project through its development phase and extends for a three year period.

Project remains the only large scale, ex African, greenfield primary cobalt project globally. BHCP (Broken Hill Cobalt Project) production will significantly elevate Australia to become the number two global producer of cobalt.

Seem interesting, though have to do further reading.

ASX News Rel