I am a bear.
Thus I believe this week’s upswing in markets has simply been a correction against the prevailing trend. In that case these daily chart patterns interest me hugely.
S&P500 – Opened on the lows, rallied nicely and closed smack bang down where it started. Suggests good selling pressure resides above current levels. Tonight’s action will be key.
Copper (Dr Copper that is!) – Big range , opening and closing where it started. Reeks of uncertainty. Watch the next day for confirmation.
AUD/USD – Finished lower than where it started the day despite the outstanding local news. Not a good sign.
Edge Capital Markets Limited, a specialist advisor in Futures – FX – CFD – Options – Shares – Gold – Silver – Commodities