We hit target today. As per my last charts, still holding above support. However, we made lower highs and lower lows after hitting the target and fell back below DP before coming back to hit it at the close. Not a bullish finish and it highlights the cautious nature of the market over the weekend. No reason to be bullish but we remain above support so for now...
61.8 acted as support 3 times- that's support. As you can tell from the last month, that level is constantly breached enough to shake out all the 61.8 tight stops, then promptly acts as support. We did reach -.236 and as of this moment we are trading below the DP. Would prefer to see a close above DP and a close back above the .50.
Went long near support as noted last night, now the market must take out 61.8. Still trading below pivot as well so protected 1/2 profits at 61.8 and monitoring the other half
Predicting the market is futile. It's worth monitoring the ongoing divergence. If it's still happening and we break the lower t/l, I suspect that's all she wrote.
