Matsa Resources have formed a symmetrical triangle formation with declining volume near the theoretical base of the channel suggesting volatility will return.
The catalyst for this may be the results from the neighbouring Elysium Resources tenements, EYM are currently in TH to announce a 'significant discovery'
Should the pattern play out the top of the channel would be intersected between 32 and 34c representing a move of around 30% from current SP of 25c.
25c is also a significant support/resistance zone adding to my entry criteria.
The catalyst for this may be the results from the neighbouring Elysium Resources tenements, EYM are currently in TH to announce a 'significant discovery'
Should the pattern play out the top of the channel would be intersected between 32 and 34c representing a move of around 30% from current SP of 25c.
25c is also a significant support/resistance zone adding to my entry criteria.
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