“Those who have knowledge don’t predict. Those who predict don’t have knowledge.” Lao Tzu, Chinese philosopher, 6th century BC


Tuesday, 19 November 2013

19 Nov 2013

Markets still in a corrective trend.  We are not sure if we have finished our downward trend or a continuation still has to ensue for tomorrow.  My analysis tells me we should still see lower prices.  the lower angle on our 60min chart is converging with our 75ma (Blue Arrow), and I believe this will be a good support.  It is also nearing my 1x1 line (Dark blue dotted line).

If in the case there is an acceleration down then we must keep our shorts for a while longer till we see a turn in the short-term trend currently sporting a downward trend or the intra day indicator shows an up push out of oversold.

Main-Trend: UP (Unconfirmed and still overbought)
Short-Term: DOWN

No comments:

Post a Comment