Dec 9, 2014


As expected lower to the support level 2040(overshot with several points) and reaction higher. The bad news for the bears the move lower is corrective and the move higher looks impulsive. Now even another higher high is possible.
Around 2065 there is resistance and MA50 from the hourly chart and I expect reaction lower but I think another move higher should follow.

The price action makes me think that we will see some choppy moves up and down for the rest of the month.... something similar like on the chart bellow.

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