Thursday, May 17, 2012

Cable stops blown

Stops blown all the way back to March.  Bears strong enough to get 5769 from 3/22?  Next support about 30-50 pips away on cable.  January low about 70 pips away on fiber.  USDx about 0.25 from resistance touched today.  Perfect symmetry.

I don't know if they will complete this move and if they do if it will happen tomorrow.  They may want to leave a little to start next week down to sucker retailers in to going short again before a reversal.


UPDATE:  As of 0:45GMT add another x to the chart in place of the Next? arrow.

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