[quote=Scrat;3635103]no longs, but no confirmation for shorts either.
as long as price stays below 143.78, i would say bias is bearish. last week closed @ 143.16, and so far we haven't seen a daily close below this level. today might do the trick and start rolling the dice...
the other thing is, last monthly close is @ 141.87. since main trend is down, i think a weekly close below this level would be strongly bearish and would suggest a test of 135.55. so, IF we are to continue up AND IF price wants to move down towards 140 area, then expect a fast move to finish all business there and then up again so that this week would close ABOVE 141.87. otherwise... down we go.
The 4 hr fib ext. is pointing to 140.42 as well.
as long as price stays below 143.78, i would say bias is bearish. last week closed @ 143.16, and so far we haven't seen a daily close below this level. today might do the trick and start rolling the dice...
the other thing is, last monthly close is @ 141.87. since main trend is down, i think a weekly close below this level would be strongly bearish and would suggest a test of 135.55. so, IF we are to continue up AND IF price wants to move down towards 140 area, then expect a fast move to finish all business there and then up again so that this week would close ABOVE 141.87. otherwise... down we go.
The 4 hr fib ext. is pointing to 140.42 as well.
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