Yes at the moment the SP is being controlled by the shorters but they and the insto's are still taking the opportunity for trading profits within the trading ranges. Also you will notice the early trade gap ups to catch / fool the unaware "retail investors" and the price breaks back down again. I still expect the SP to retest previous lows (2.57 / 2.62) and if there is high volume support (insto's) then that should be a safe entry point for a trading profit.
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