After periods of extended trend, eventually price hits a very long term trendline, and this is where the other side of the trade are most likely to react. Risk increases.
Newmont fell through the demand line only to show it was a false break, good defense by the bulls (so far). This action forces shorts to cover.
Click for popup. Clear your browser cache if image is not showing.
We can most likely expect similar action with US Dollar DXY index, a bust through and some volatility (code word for correction). The US dollar is in the zone where corporate America will be hurting, and therefore calling senators to motivate a change.
Click for popup. Clear your browser cache if image is not showing.
NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net
Investing Quote...
..“It cost me millions to learn that another dangerous enemy to a trader is his susceptibility to the urgings of a magnetic personality when plausibly expressed by a brilliant mind.”...
Jesse Livermore
.."The first rule is not to lose. The second rule is not to forget the first rule"
Warren Buffett
Comments
Log in or sign up to join the conversation.