We are on a streong supoort zone and our EUR is still strong even after hedge funds closed both bullish and bearish contracts as EUR net position is high on positive. and USD also both bullish and bearish contracts closed with still strong bullish net position.
We are now pushed to break previous resistance to now a strong support after the retest on support we still expecting a strong push to the bullish side. and also both longs and shorts positions where opened by hedge funds but our net position weakened a bit from previous week.
We are on our strong supply zone and am expecting the market to reject as we must go bearish till our previous demand zone. also Nasdaq has being getting more weaker for the past weeks as more bullish contracts where closed and more bearish contracts where opened and our net position decreased extremely as well.
A nice M formation is created and am expecting more push to the downside(bearish) as we just rejected a strong resistance. Also the market just finished up down push down and pullback so more bearish expected to push feature down.
We are on our strong resistance and am looking for sell from this zone as more contracts on cot where opened more shorts were opened than longs and our net position is also showing us that it went back to negative.
We just finished up forming a nice M formation pattern and now expecting a little push to the up side just to retrace on our M formation neckline and continue with our down momentum movement, also as on cot report more longs were closed and shorts where opened.