I'm hoping that 92c will hold as firm support (because if it doesn't I am moving elsewhere, for now). There was limited buying at that level end of Monday.
We've had two days of very aggressive selling, which I believe are not justified by the technicals. Perhaps there is something else going on (fundamentally), to which we are not privy (when is that not the case? Someone always knows more than we do. This is hardly news..).
Tuesday will be the decider, IMO.
This level (92.5) was tested and rejected on 5, 6 May, 2016, rose to 1.02, and then collapsed to 0.84, an obvious and stark swing low (aka "pin bar") on 30 May. That is where the obvious stops are (if people use stops, does anyone have one here? Just curious...very curious....) - an area of hi liquidity - and ripe for the picking. If 92 /92.5 doesn't hold (I make no predictions), then I suggest a potential swoop down to that 84, take out the stops, the bulls will take control, and a potential big intraday rise off that level.
We will find out soon enough
DRM- DAILY
DRM Price at posting:
92.0¢ Sentiment: Hold Disclosure: Held
