We strongly believe that TA does not have weight on a non-technical market, we experienced this yesterday as Gold dropped over $50 and nobody knew why, despite what they say publicly :) However, we can't ignore TA completely, that wouldn't be smart.
Our chart illustrates weekly and monthly fibo targeted support ...
Follow the Moving Average. Price always comes back to MA + interesting support levels. Be cautious if 1300s/1260s Broken. This is not a trade chart. Observe price behaviour. IMO Fundamentals stronger than Technicals during "uncertain" times.
Disclaimer: Even though we hold a few short positions, overall we ...
Pay close attention to historic price action with MA20 (Blue) on the Monthly chart. Now decide whether you should be a Bear or Bull. :)
Fundamental analysis supersedes technical during "Global concerns". IMO. Trade Safe. Trade Your Plan.
Shorted the TL retest. Target on the chart. Requires close attention to EURUSD as well; as Euro drops it might boost equities (Germans export a lot of stuff - lol). TP1 is 9230s will review and update then. GL!