the last megaphone for the despaired bear is this, another violation means all bears would turn into bulls?
Let me ask you a question:
If the economy is "Recovering", why central banks everywhere have to lower interest rate to "boost" economy?
What are they so afraid of? And if they're not afraid of something, then why are they constantly hyping their threadbare commitment to "do whatever it takes," pushing real interest rates into negative territory and buying stocks and bonds hand?
I would expect them to hike the rate though. What is the thing that they know but i do not know..
But anything unexpected can happen, which is why as a trader we have to take into acc for it
Using a monthly chart, log scale, drawing a trendline connecting Dec 2008 low, to June 2012 low and extend it, the price just sitting at the trendline support. I have some conviction that price would slightly break the trendline to wash out the bulls before reversal for short term. (i am watching ~38.5 level closely)