In other words, those shorters who benefitted from the resent slump are happy taking profits at $1.06 and for it to go below $1.06, the new wave of shorters will need to drive it down.
Question is, will the new wave of shorter outweigh the profit takers? Taking into account the RA results to be released in July.
I suspect the closer we get to July, the more urgent the profit taking. Right now, they are happy with $1.06.
SMH commentary 18 June, page-111
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