OK I think I have worked it out,
they started high (1.30) because they wanted to take it down a long way, on light volume, so they could take it back up to 1.30 on the close. That price activity forms a candle stick pattern called a 'hammer' which is a bullish candle.
They want to do this because it will show on a daily at the end of a week, month and quarter of really significant gains, thereby attracting all of the attention of those funds who ae doing their asset re-allocation.
perhaps very smart stuff
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