Wednesday, February 4, 2015

Stuck In A Range

Concerning my previous blogpost from the 16th of January. Well, that title could be used again. Because two days ago we bounced from 1980 support on the S&P-index. And today we (almost) hit 2050, which is resistance (see chart below, watch the white trendlines). As long as we're stuck in this range, I would stick to buying support/selling resistance. Only when we break one of those trendlines and close below 1980 of above 2050-2055, that changes.

In the meantime, oil rallied hard for 3 days, only to give back half the gains today (down about 8%). If you wanna trade this, it's not for the faint of heart! I'm sure many accounts blew up, others made huge gains in the last 4 days! Be careful!

No comments:

Post a Comment