Back to the daily structural support on futures (blue line) -
I'm expecting a stronger reaction here (or slightly lower) now that we're in a wedge and the hourly bull divergence is steep.
If they go lower for today it's not a huge problem, but I'd like to see this trendline hold by the weekly candle close. If they can't stay above the trendline (which is also near the weekly 200sma) for the week it will become more problematic. A strong sell from here to 3500 area will be more evidence for the bears and any retest of this trendline/weekly 200sma area will likely be a good shorting opportunity. Good luck!
If they go lower for today it's not a huge problem, but I'd like to see this trendline hold by the weekly candle close. If they can't stay above the trendline (which is also near the weekly 200sma) for the week it will become more problematic. A strong sell from here to 3500 area will be more evidence for the bears and any retest of this trendline/weekly 200sma area will likely be a good shorting opportunity. Good luck!
Komen:
US dollar finally looks like it's starting to break down from rising wedge
Komen:
breakout of wedge. Any retest in the morning is an objective long entry
Komen:
3595 likely support after open
Komen:
Looks like a lower wave is possible - would fool both bulls and bears. Sort of expecting this -
Komen:
Looks complete to me
Komen:
downtrend looks complete. under 3560 again and there's something wrong with the analysis. I'm buying dips from here.
Komen:
they reversed hard so it looks like we'll make one more low. Weekly BB is at 3491 and may be the target. I still think this week is the reversal.
