the way i see it (and i could be wrong, anything can happen in the markets) the odds are strongly in favour of cnp getting an extension.
shorters and punters both realise this. shorters will be desperate to cover soon regardless of what they believe because (a) if cnp get an extension the sp will rise, and (b) if they dont they will go broke and everyone loses.
so short term imho a bounce has to happen.
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