Good afternoon everyone, price was setting up terrifically on NEU yesterday until supply entered the market today marking prices down however the price structure remains favourable for big upside potential in my opinion, today I spotted a continuous trapping manoeuvre displayed by the pros this usually can happen before a substantial price move I'm observing buyers have taken full control over shorts leaving the shorts in a very vulnerable situation.
IMO the pros may have a surprise in store tomorrow for those who failed to understand the bear trap taking place if realised they would have known and exited as they are on the wrong side of price clearly imv most didn't exit and remain on the wrong side of price in my opinion it most likely to result in a parabolic countermanding price move to $13.60 level fuelled partly by shorts forced to cover. .
Tomorrows open will be the tell lets see if we can get a gap up or strength and see if price can play out to this thesis. I have seen this tape play out many times over and resulted in a up move. .my only issue is I held off from buying yesterday to regret it today after seeing the chart on the close.
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