Per my post on Sunday, I was looking for a sharp drop on Monday morning and it fell even lower than expected. What happened today was surprising, a strong up day in return. This leaves the direction a bit foggy, we could be in a sideways trading range now. Need a couple more days to see if it resumes it’s new uptrend or drops lower than Monday’s downfall.
Here is my weekly video review of the B12 Markets for 11/16/14. Enjoy!
I don’t advocate watching news, but I always pay attention to country event,s especially around central banks. Japan’s markets are open now on our Sunday, and our Monday looks like it’s going to be a heartache. Just when the charts showed a solid bounce off moving average and trendline support. Bad GDP news means Monday looks like it will break all the rules.
A look at the chart as of Friday, Monday probably won’t look pretty. Possible play to the downside next week. A strong close below the Nov low of 7th low of $42.10 will turn me bearish. Daily trading range is $1.25. I wouldn’t be surprised if it gaps open at $44.