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282 Posts.

13/09/17

12:24

Post #: 27183603
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Originally posted by Samboy69 ↑

Ok more of a sore now
a 4 wave intraday smackdown by the shorters and they waitied for the risebacks and then bang bang shorted it down again and again.

Finished at daily lows with a lower red bar 7c wick like a shooting star candle very bearish
expect with NP lower another set of attacks tmrw toward the 2.56/2.45 rounding top pattern completion.
The shorters are feeling confident now and US$ rises have reversed the NP sentiment yet again short term,

but long term its that 1.7% US inflation rate that is bullish for NP long term and that rate aint going to change for some time forcing the fed to stop rate rises and startup QE or rate reductions again which is bearish for the US$ and in fact the US admin wants a lower US$ so it will happen.

May take a month to resume the trend back to a rising NP again until then we may see a correction here to 2.40-2.60 as those 17% of shorting shareholders burn us backwards temporarily.

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Keep up the good commentary I enjoy following it.

WSA Price at posting: $2.72 Sentiment: None Disclosure: Held
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