Agreed. It just goes to show how rotten we all (and I mean everyone... globally) are at short-term forecasting. Just as well the cash was raised when it was. And just as well we hadn't fully committed* to the restart works. These dodged bullets are reminiscent of 2015, but the fundamentals re- supply/demand and inventory overhang are more favourable this time - assuming, of course, the global economy isn't heading for recession (unlikely, in my view) and the EV evolution doesn't fizzle out (also unlikely, in my view).
From a technical perspective (for giggles, dear reader, because who in their right mind would attempt to forecast the future, right?), the int'l NP has just broken into oversold RSI territory on the weeklies (i.e. the bigger picture). I smell a reversal coming... but just how far away? Don't forget my "just for giggles" 5-7 Dec forecast low, so all y'all can whack me with that stick when it doesn't come in! (lol)
(*spare a thought for those poor bastards at PAN. Who knows, the current weakness might actually be an awesome entry opportunity over there in the fullness of time.)
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