Daily GBN.V

On the daily chart a very obvious pennant has formed in the last 8 weeks' time. The notable price level is a 50% correction on the move from 20.5¢ to 75¢, the low established in the fall of 2009.

Why this is important is that should this price level hold, which has been sorely tested, and the breakout of the pennant goes into its continuation, then its very highly likely that the move will take the share price out of the doldrums.

It also means that the share price will not spend much time in consolidation. A share price correction to the .382% correction level would mean a low of ~41¢, which by now is becoming a very remote possibility.

The conclusion that you would draw out of these observations is that the rally is to continue.

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