I’ll keep it simple, if you ain’t long, you’re probably wrong. Last week saw that old age strategy of ‘buying the rumour selling the fact’ not working, instead we saw traders buying the rumour and buying the fact. This baby is quite simply gone.
All I want to see this week is red candles, I love them. Nothing moves in a straight line so don’t expect it to carry on up, that’s not to say it couldn’t. If you’re not already in then wait for those red candles, however if you already have positions then first support @ 147.90 zone will be interesting. 145.50 zone will be the sweet spot but I dunno if PA will ever get there.
Lots of places to take profit; 152, 155, 158, I guess it depends what your strategy is. You can see previous posts for confirmation of levels and monthly targets including charts.
Don’t agree? Let me know what you think.
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