AZL Daily Report, page-508

Are we ready to launch?

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Yes a much better play last few days. We could have easily finished at 2.5 today, but some are still hesitant, we need to get over them first. From a weekly perspective, slight gain from 2.2 to 2.3.

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So how is it looking now? The finish doesn't tell the whole story. Earlier in the week, there was an attempt made to push it to 2. But 2.1 held somehow. Then chewing 2.2. Again 2.3. And today 2.4 was taken a few times. Some big sellers are out, but many feeling jittery could come off screen. But buyers have been winning for last 3 days. And if the macro trend continues, we will keep on moving up, even without news. Any news could do wonders.

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Personally I picked up some at 2.3, those that I had let go few weeks backs around 2.5 so not much difference, but freed up some money to play elsewhere in the interim. Also as I have mentioned, I respect price action, so was playing safe. My sentiment currently is just the opposite, I feel we could see a big game here happening soon. Just my thought, there is no guarantee, so please dyor.

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So what may happen next week? Those reading my post, I often mention key numbers and range. One very big number is 2.5. We had 5m seller at 2.3, which we got over, another similar sell sitting at 2.5. We have to take that out for a positive flow and get to very critical area of 2.9 to 3.1. This is the area we have not been able to overcome multiple times. It won't be easy this time as well, but macro sentiment is changing. People like Canada play. People like brine. We need a few big pockets to also feel like that, and realise the potential here. Rest will be history. Enjoy your weekend and all the best.