Great to see ECU have such a strong day closing up 9 cents and at the high for the day. What made this even more impressive was that the share price finished up 21 cents from the morning low assisted by some notable large bids slowly eating away at the sellers and on a day when most other juniors were flat at best.

As sharky mentioned earlier, we are now retesting that long 2-year down trend line for what seems like the umpteenth time. With the 200 day moving average in clear sight at $1.77 and the most recent highs in the $1.79 range, a strong move above $1.80 could trigger the technical traders to pile on and overwhelm those pesky shorts. We have been here before only to be disappointed so we may require the help of a strong move in the underlying commodity prices next week combined with some timely news to finally start a new long term uptrend.

I've posted the following chart many times before that clearly defines a long term descending pennant formation which has remained intact during the most recent pull back to the $1.30 level and subsequent move higher. Let's hope the buyers we saw this week continue devouring those shares and finally help end this long down trend.

Stay tuned...