Nov 28, 2010

Weekly review / Седмичен преглед

Hello traders!!!!
The long picture has not changed. We have sideways consolidation which will be followed by surge higher. It is difficult to say when. My guess is beginning January.
We are still in a correction. In the last eight sessions is DJ trapped between MA20 and EMA50. Which way will it break UP or DOWN? I have no idea, its toss of a coin...
At this point there is to many scenarios how this correction could play out. It does not make any sense to guess what will happen in the short term.
I expect at least another two weeks correction(the white vertical line 50% time retracement) and ~10900 or 38,2% price retracement.