Today it was easy to predict the surge with all the market forces the way they are.
However, we were on a downtrend before we boarded this rocket ship.
Today we didn't retouch the open, nor did we manage to reach mid 37xx.
Tomorrow I believe we will continue the downward trend of last week.
There is ofcourse always the chance that we will make a detour to 3930 - 3950.
However if we do, I don't see how we can stay there, today's surge burned up A LOT of momentum.
More likely we'll see an identical repeat of todays surge headed in the opposite direction.
So we'll first however between 3900-3888.
Then cross below 3888.
Then hoover 3888 > 3868
Then cross below 3868
Then hoover 3868 - 3850
the cross below 3850.
3850 - 3830
cross 3830
Etc etc until 3750, we are highly unlikely to reach 3750 today.
Though I do see it happening before the end of this week.
Whether you're long or short, best of luck all the same.
However, we were on a downtrend before we boarded this rocket ship.
Today we didn't retouch the open, nor did we manage to reach mid 37xx.
Tomorrow I believe we will continue the downward trend of last week.
There is ofcourse always the chance that we will make a detour to 3930 - 3950.
However if we do, I don't see how we can stay there, today's surge burned up A LOT of momentum.
More likely we'll see an identical repeat of todays surge headed in the opposite direction.
So we'll first however between 3900-3888.
Then cross below 3888.
Then hoover 3888 > 3868
Then cross below 3868
Then hoover 3868 - 3850
the cross below 3850.
3850 - 3830
cross 3830
Etc etc until 3750, we are highly unlikely to reach 3750 today.
Though I do see it happening before the end of this week.
Whether you're long or short, best of luck all the same.
Comment:
We were spot on on this one as the day ended exactly on second greenline at 3870.
