Looks as if the market is short of breath. Maybe better luck tomorrow as it tries to break the recent high made last week. The intra-day with its foot in the OB range was not enough for prices to push higher. Judging from the signals and price movement, there is weakness lurking behind. With the current trend still up, we are still watching for a push up, but we also should watch this intra-day for its general direction tomorrow. A push lower by the intra-day charts tomorrow would allow us to wait till the signal crosses up again to trade up into the SYNC with the ST's UP trend.
The risk undoubtedly is still UP.. If you would like to speculate for a down move you would need to be out on a turn up of any indicator you are using in an intra-day time frame.
MT: UP
ST: UP
PA: NA
The MT has now managed to catch up, but with volatility constantly pulling back and forth, our MT has recently becomes a laggard. As I always said, the probability of the signals clearing up will come. You just have to be patient.
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