Dec 4, 2010

Weekly review / Седмичен преглед

Hello traders!
This week we saw strong rally and as the bigger picture is bullish we should assume that the next leg UP has began.
The first two charts show how it could look short term and long term.

Yes, we should follow the market and see what happens. But be cautious, something feels wrong. The correction does not look right. It is too short in time. Some of the indicators are still in overbought state...
I have the suspicion that something like the shown on the two charts bellow could happen.
If we make new high but not convincing with long bar and high volume, expect the scenario bellow.

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