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

PAYPAL

Wednesday 23 April 2014

23 Apr 2014

Unfortunately, the downtrend today was not strong enough to make any change to our ST.  Hopefully tomorrow will tell a different story.  But by the way we are going, the behaviour of price action does not suggest that a trend change is at hand.  What we need is acceleration / impulsiveness which we are not getting.  If this is true then the lowest possible low would be in the 1865- 60 range.  At this level if we still have not seen an impulsive move and a break of those values I suggested, then we would be looking for a rally higher and possibly higher highs.

MT: DOWN
ST: UP
PA: NA

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