Good close today to finish above a perceived resistance of $3.00.
My thoughts are if copper holds gains tonight and goes higher then the current $3.00 resistance will melt tomorrow.
This is setting up for an incredible move and I hope the register finally gets an opportunity to show the shorters who is the real boss.
It still blows my mind that someone is building a small position whilst price keeps rising. Is this a last ditch effort to try and pull back price.
I note that short position was approx 5.78 million shares Monday thr 10th (approx 2.17% of SOI) and now it's up to 6.044 million shares as at the 12th.
Gross short yesterday was around 95.5k shares. Shorts are being used to control price advance. They are losing control slowly but surely.
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