It dawned on me quite a long time ago that simple and levels are the best tool for people who are afraid of elevated risks and are not looking for big profit. This is usually the case for calm speculative traders with a modest appetite and mid-term investors. As for today’s trends, just look what levels were seen in CME Group stocks. What a strike in the Fibonacci 161.8% retracement level. It’s looking really great.
Needless to say, it’s a little late to trade short, as chances looked better at 100. Meanwhile, it might not be a bad idea to launch long speculative positions from the upper bound of the 2009 rising band at USD 90.
I am competing in the best market forecaster contest and would appreciate your vote for my efforts by clicking here: http://iironmaiden.whotrades.com/blog/43717475199