Disliked{quote} Well In my view we now see the short-term Time-frame with the daily time-frame coming in together. The current break-out to the south.... Lock, is this down-move corresponding with new money in your view.....?!Ignored
Disliked08:58 +1GMT Remember that 2673 is the monthly breakeven upside: I forgot to underline this very important fact here!Ignored
Disliked{quote} You underligned two overlapping daily balance: overall is a monthly balance and the breakeven is at 2673. So we are already in a break out. Now we could have 2 things here: continuation above breakeven in the direction of current rally or rejection above it and a correction downside back to the opposite side of the monthly bracket.Ignored
DislikedInventories are horrendously too long right now: warch out! It could continue higher from here but only leaving downside a very dangerous mess of weak references.Ignored
Disliked16/12/06 TUESDAY 08:30+1GMT (edited untill 08:43) EARLY MORNING REPORT We are in the week following the weekly breakout from balance (25123 breakeven) and we are in an attempted monthly breakout above November breakeven at 2673. Price is in one timeframing higher mode during the last 5 days including today. And currently price is slightly above the half back (27115) of the entire move downside from 09.06 high: this level was very significant yesterday and price spent over there a lot of time. Now, as written previously, we could do 2 things: continue upwards above the monthly breakeven 2673 or fail above it and come back inside November aimining at the opposite side of its balance range (22043)Ignored
Disliked11:08 ... 13:19+1GMT We have now something like 38 hours of grinding higher price action without any meaningfull correction. Current GB has a poor high and current I period is at open. We got no acceptation back inside yesterday range nor above Tokyo high. The current range is very narrow.Ignored
What we have seen today (and maybe more than this) is the liquidation of the incredible 2 days of grinding weak action upside: as written continuosly during the past 2 days, the upwards move was supported ond ruled only by weak hands and I expressed my perplexities about the risk involved in such a price location many times.
Note that current liquidation is also testing the monthly breakeven at 2673 that this morning and yesterday I stressed as our most important level in these days.
Now, it is a liquidation because it started leaving behind 2 back to back poor highs (GB 27744 and preUS 27688) and it has been a very fast and sharp move: this does not mean it cannot morph in something stronger if we find acceptation back inside November balance range. But for now it is a liquidation, clearly.
Ubi maior minor cessat
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