The looney has baffled me coz now with oil going down we could get a drip effect upwards. Looking at the monthly candle...we clearly have a reversal pattern so i guess it's one to watch for longs... but i dunno if i want to be buying dollars?..The close of the candle should tell more.
This could develop into a long on pull back.
Geppy just looks like a big old trap....i mentioned 3 or 4 days ago...that we will not get any real sustained move upwards until 150/151 is reached..the monthly candle suggests this is still the case. Can this baby still rocket upwards?...sure but it will be more of a shake out me thinks.
Looking more and more like a short..but the next couple of days could be one hell of a shake-out.
Will post monthly charts tomorrow.
Happy Pippin
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