Todays price action was sure a surprise to both bulls and bears. The price acceleration seems to feel almost like a wanting to finish the top. The 60min MACD is lagging making divergent signals, therefore we must watch for a breakdown sooner than later. With the recent volatility in the market, nothing can be counted out. As everyone becomes complacent, it becomes more fitting to watch for an exit. The main trend should notify us of this.
Main-Trend:UP
Short-Term: UP
The short-term trend turned up today, but this might just be a fake-out, but we must trust its intent, as it has no reason to want to fool us. The Upper BB should also be watched at 1716-1717 range. A pierce above this is one sign of a potential reversal. Therefore we possibly could see 1720 range.
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