With COTs favourable and many of the indicators bottoned (or bottoming), I'm viewing todays plunge as 'tree shaking' ahead of a big UP move. $1230 needs to hold though, and we'd have a bullish higher low, and a great set up for a strong rally. I could be wrong though ;-)
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Tree shaking it might be but in a "normal" market or "real" market, who in their right mind would intentional dump what they have to sell in one large transaction knowing full well that it would cause an avalanche of sell stops to be triggered and thus a huge move down in price?
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I think that's the point. The price continues to fall, allowing the seller to get back in at a lower price point. Manipulation ?
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