Minor resistance at 50 day moving average. Might see some open short interest pushing prices down back to 1860 or so given that current market conditions are ideal for volatility
. If we are lucky, should be able to see an inverse H&S
that should push price upwards over the 200 MA in the coming months once the market realize the over-reaction to economic activities in China and the US.
Placing stops just slightly above, near the 50% retrace from the december end decline.
Remember, nothing can stop the irrationality of men except for irrationality itself - till then!
Feel free to post your comments, we can always agree to disagree.