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

PAYPAL

Wednesday 5 August 2015

5 Aug 2015 - Nowhere To Run

Looks like prices really are fighting this line, and it seems it does not want to give us a clue as to its intention.  I will stick with a bearish setup to trigger my trade since we are in a bearish market.  Added to this, a down trending ST which has not changed direction.

Right now, I believe the bullish play here is if prices can move above 2115 and bearish if it can move below 2087. By doing so, it would increase each of the chances of continuing its trend.  The bearish camp really needs to break that 200 day MA line soon though or it will definitely become a strong line of support the longer it stays near and above it.

MT: UP
ST: DOWN
PA: NA

Note:  The 200 day MA is actually at 2071 at the moment as I forgot to update the green support bar above.

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