Update for: 2012-05-28 - 2012-06-03
Posted on: Sunday, 27 May 2012 21:08
Short-Term Trend: sideways
Almost nothing has happened since our last update, so I retain my outlook here. We are in a sideways consolidation that is more likely to be bullish. But the confidence is low. Only a move abv 84.20/50 will be a bullish confirmation. On the downside, I really do not expect a breach of 76.00 support, but if it occurs, it may carry quite bearish implications with it. Overall, trading is difficult under the current environment. If USD declines a bit further though in a clearly corretive manner, I may favor a long position in June.
Strategy: Stand aside.
Next Update: Sun, 06/03/2012.
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