Price is at support and a break of this would have us push perhaps to a new LL. I do not have any idea of the news that will come out of the weekend but this coming weekend is the Chinese New Year, so I'm not sure if any bad news or any news will be coming out of that side of the world. Wave-c (red) to 61.8% ret. is still in play, but the ST Down is holding pretty well since the signal.
The weekly closing bar is negative, and should sway it down next week unless we have a surprisingly good news before the market opens next week. This should be good for the Bears as the market is still biased to their case.
SEN: Bearish
ST: DOWN
PA: DOWN
No comments:
Post a Comment