The last time we looked we saw that the reconstructed two-dimensional phase space was characterized by a long period of relative stability in the $30 area, from at least January until early September. It moved rapidly to the $37 area, seemed to complete a cycle, then the price fell in late September, along with practically everything else in the sector.
Since the end of September, the phase space portrait for price has generally remained in what we identified as LSA 30--an area of Lyapunov stability centred at the $30 region, with one excursion above (in November) and below (in December).
Our best hope in the intermediate term is for continued strength in the sector and the price to move back to what we proposed to be LSA 37. But there is a lot of inertia in LSA 30.
Disclosure: Long DGC-T.
Since the end of September, the phase space portrait for price has generally remained in what we identified as LSA 30--an area of Lyapunov stability centred at the $30 region, with one excursion above (in November) and below (in December).
Our best hope in the intermediate term is for continued strength in the sector and the price to move back to what we proposed to be LSA 37. But there is a lot of inertia in LSA 30.
Disclosure: Long DGC-T.
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