A couple of weeks of strength in the markets and everybody is cheerful again. In the weekly context this looks like a normal retracement of last year’s sell-off. The weekly trend is down.
Weekly trends are solely for the very patient investor. And cost of carriage will kill you on any scammy retail-trader brokerage account. Still I want to note that a touch of 11.850 would pose a good place for a long-term short.
Let’s see how it plays out. But don’t be surprised if markets run into trouble in the coming months.
* Remember, I don’t give investment advice. I write these posts for my own joy and your entertainment. Always take responsibility for your trading decisions and analyses and don’t ever blame me or anybody other than yourself. I might or might not be positioned in the instruments I write about.