Monday, February 8, 2016

What Now?

Indeed, what now? Your guess is as good as mine. 1830 was good support today, but with European indices making new lows, I wouldn't bet the farm on this late day bounce we got. As long as 1800-1830 holds as support, we're good. But the more we touch this area, the weaker it will get. Watch out  below, 1650-1700 is next. Here a 4h-candle chart showing the fake 1910-breakout last week. 1875 is first resistance (last week support).

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