Minor resistance at 50 day moving average. Might see some open short interest pushing prices down back to 1860 or so given that current market conditions are ideal for volatility. If we are lucky, should be able to see an inverse H&S that should push price upwards over the 200 MA in the coming months once the market realize the over-reaction to economic activities in China and the US.
Placing stops just slightly above, near the 50% retrace from the december end decline.
Remember, nothing can stop the irrationality of men except for irrationality itself - till then!
Feel free to post your comments, we can always agree to disagree.
Placing stops just slightly above, near the 50% retrace from the december end decline.
Remember, nothing can stop the irrationality of men except for irrationality itself - till then!
Feel free to post your comments, we can always agree to disagree.