Update for: 2011-11-21 - 2011-11-27
Posted on: Sunday, 20 November 2011 14:20
Short-Term Trend: weak downtrend
The move down has been very choppy last week but still the prices moved lower. The daily trend is still firmly on the downside as the prices remain below the declining 100-day and 200-day moving averages. But this market remains difficult to trade because the price action is so boring. Still, I believe that eventually the price will firmly break below the 76.10/00 support and the downside pressure will accelerate.
On the upside, only a move abv 79.50 will negate this bearish view....
I encourage you to wath my video analysis on all major markets (forex and stocks) that I recorded for you on Sunday.