Prices are likely to trade on a weak note for the next few weeks because the breakout of the large base formation has clearly failed. Any rebound is likely to be temporary, with resistance appearing at three cents. This was the level of the neckline of the base formation.

Short-term stochastics and 21-day RSI are at the low end of their range, triggering the bounce. However, quarterly momentum is falling from a relatively overextended high and has further to fall. Support is around 1.9 cents.