19 Aug 2013

The oversold sentiments drove prices lower as suggested last Friday and although we had a brief rally out of it on the 60min chart, the momentum was still to strong to the downside which ended the day back in the oversold zone.  We are still on track with our down-trend indicator and we should hold our short position until our indicators on the short term decides to turn up.  We have also broken the daily 75ma line last time that happened? June 20, 2013. 

Main-Trend: DOWN
Short-Term: DOWN