DislikedThanks Wolf. I always appreciate your analysis and you tend see things that I miss.
I can now see where 224 may have originated and I am of the opinion that it is a temporary up movement. I have looked at the monthly and I am convinced that strong support sits at 221/220. 224 seems fairly strong when considering that price bounced 800 pips off that level. If this second bounce goes much higher than the low 228 region then I may start to consider it a reversal so I will wait and see. I am expecting one more drop to my reversal level of 221/220.
Thanks for sharing!Ignored
After the resistance 228 it all looked downhill this morning and I've only taken shorts (still short). Looks undecided right now though Im still favouring the short side now that resistance above has been found around 228.
I just hope we do not enter a ranging period which I feel we could easily do.