NExt level of possible support is 36-37c then 30-31c..
Even if the FA improves there are so many people that will be relieved to sell in the rise..
I’m personally just waiting to see what happens at those levels. Once there is a decent shakeout, blow up, exhaustion, whatever you wan to call it around that 30c or lower level only then will most weak hands and stops be rinsed and price will be able to rise..
If it can’t hold above 30c over the next few months that will be a massive, massive red flag for any hopes of decent commercial royalty revenue coming by end of next year.. The market always prices good news in atleast 6 months in advance..