This is an update to my previous posting, and more details into my analysis of the current developments.
Need to keep in mind that after a strong selloff, a correction rally was to be expected. So we dont have confirmation of a trend change yet.
Also - traders will be looking at the US CPI reading prior to any further action. In any case my pending trade is a "pending" trade :) and it is well positioned to avoid the risks of any lower slide below the identified support area.
Need to keep in mind that after a strong selloff, a correction rally was to be expected. So we dont have confirmation of a trend change yet.
Also - traders will be looking at the US CPI reading prior to any further action. In any case my pending trade is a "pending" trade :) and it is well positioned to avoid the risks of any lower slide below the identified support area.
Comment:
We need to brake and stay above 40600 as a first confirmation towards the upper targets and a preliminary reversal confirmation.