NCP is really trying to break out over 11.50. Plenty of shorters and profit takers at this level - all unbelieveing re the current US rally. The 11.55-11.60 area will have a lot of shorts stopped out - if we rise again in the US tonight we should open in this area tomorrow morning and drive straight up as those shorts unwind. I see 11.80 over the next few days if we have a good night tonight in the US... The bears must be getting frustrated at the moment...
Yes I agree that the 12.60 area is possible - I guess the AUD will have to stay at current levels or fall, and S&P500 will need to reach 1050 by June sometime - I see this as really possible with the current bull legs.
