Air pockets have appeared in the intraday charts. Is this the top, or a top. That higher right shoulder makes me suspicious. I can’t remember the last time that pattern has broken down let alone into a sustained decline.
Support is suggested at 3890 and 3868. Any move that holds above that is a nothing burger.
The latest from Liquidity Trader.
Primary Dealers are Already Dead
5 Mining Picks Ready To Swing as Gold Holds
Proof of How QE Works – Fed to Primary Dealers, to Markets, To Money
7:30 AM ET –
I meant to post that several hours ago at 3:45 AM ET, and forgot to click Submit. Here we are at 7:30 AM and indeed, the threatened breakdown area turned into support, and another rebound.
So we now have a triangle pattern with support at 3890 and resistance at 3915, and converging toward one another through the day. There’s been no hand tipping yet as to which way this will break out. Normally, I’d say up.
