In relation to SSM price action, take a look at two charts below.
First chart is an hourly. There is a clear pivot at $0.83 that we need to be weary of. As I have said on the other thread, SSM has reached my bear target at $0.84, and if one wants to enter, they need to do so cautiously, as this is not out of the woods. I'd expect some resistance of that pivot, but we don't want to see a close below $0.83 on the hourly.
Second chart is a monthly and shows a bear flag formation. Could a longer-term resting place for SSM be in the $0.50s based on the flag pole extension?
I have said previously, including to a very ignorant poster, that the market will sell uncertainty. At the time I mentioned future contracts and also existing contracts, with no commitment from the NBN on volumes. If NBN is prepping for a listing, this could create further uncertainty, due to governance shake-ups.
I am cautiously holding for a trade, only. Unless the fundamental narrative changes.
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