Look again at the chart thread. That price I mentioned only comes if support fails. Did support fail? No. Funny that a lower SP didn't happen then, eh?
Problem is, BRL is still well into a downtrend, and if you compare it to the now weak momentum in SP to the weak momentum in Aus low vol coal prices, you might have an inkling what is to come if key support fails on both fronts. Also funny that you mention "sellers are exhausted", yet volumes are at very low levels and any such weakness would result in SP increases as buyers continue to "see a bargain" as you guys assume (you know, Supply and Demand or ECON101...)
But then again, I don't really expect rose-tinted glass users to actually know how to navigate a chart, let alone interpret one. Very weird, distorted world you guys live in...
For those who do, I'll post this chart up - class H&S pattern on coal now at support levels.
Enjoy
View attachment 1080103
(20min delay)