Markets does what they are supposed to do. They are supreme.
The dips below 46000 remained the classical trap. 9 Day of continuous negative moves are rare. Those who know the set-up and markets have survived. FED or No FED these work miracles with a marginal line of safety. This time is no different.
Confidence and Assurance, markets always cheer. They hate uncertainty. Markets embrace three cuts with three cheers. NIKKI does the fresh punch. Dollar remains a transactional currency with a boxed range than a fearful move either side at this point of time.
The next wait is our own MPC. Another meeting nothing emerges, but the words count.
Out of the 9 candles the first four are relatively large in body size (save the third one of the four). Remaining candles wicks were larger, but the gaps were noticeable. The last three days, little or no gap, larger lower wicks than upper wicks. Close above 46000.
Close above 46600 confirms break of downward trendline, a end of the down move and restart towards the 47300 area. Base is built around the yesterday close.
With near 300-point gap plus stops 46200 for 46900 (may not be for today but that is what is in store).
The dips below 46000 remained the classical trap. 9 Day of continuous negative moves are rare. Those who know the set-up and markets have survived. FED or No FED these work miracles with a marginal line of safety. This time is no different.
Confidence and Assurance, markets always cheer. They hate uncertainty. Markets embrace three cuts with three cheers. NIKKI does the fresh punch. Dollar remains a transactional currency with a boxed range than a fearful move either side at this point of time.
The next wait is our own MPC. Another meeting nothing emerges, but the words count.
Out of the 9 candles the first four are relatively large in body size (save the third one of the four). Remaining candles wicks were larger, but the gaps were noticeable. The last three days, little or no gap, larger lower wicks than upper wicks. Close above 46000.
Close above 46600 confirms break of downward trendline, a end of the down move and restart towards the 47300 area. Base is built around the yesterday close.
With near 300-point gap plus stops 46200 for 46900 (may not be for today but that is what is in store).
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