A good strong break of a longer time frame trendline and the 200 day SMA also came in close to that break. A nice retracement back to a key level and then closed lower.
I am short at this level. Looks like it's starting the next leg down. 12.50 area may offer some support but it looks great so far.
April Live Cattle triggered a short for me after the gap down in the 134 area.
I like the way it's behaving. In the last couple sessions, it has broken down below the short- term uptrend line after a clean touch on the longer- term downtrend line.
After a significant and a rather hasty run-up in the last couple sessions, April gold has formed what we traders like to call a Bearish harami type of candle in the last trading session.
This does not mean the price is going to tumble back down like a lead balloon, but it is an important signal for a possible reversal short term or a more extended one. The first...
