Banter and general comments, page-21052

decent volume today, i expect given the rally from 96c to 1.20 was on the DSO news, the retrace back is likely to be bottoming

Ofcouse alot of this retrace is due to LCE Price drops from close to 600 to 485 now , what is interesting to note is the LCE price drop coincides with the relaxation of China COVID cases . That has been 2 months now and from what is reported it was a pretty big-bang type of relaxation. We know from experience, COVID cases will peak after a few months so it is likely we are going to see a bottom in LCE price and thereby a bottom here in CXO.

Also some really good technical strength at 98c giving us limited downside risk.

The only problem here is the markets are overheating, we are likely to see drops in US markets overnight and If shorts will increase here or use it to close out, given the high shorting level, i expect close out which again serves as a bottoming (i.e. they are buying)..

either my view is DYOR and dont get shaken our cheaply for what is a long-term generational investment