Jun 7, 2016
A slight change, obviously the mess from last week was wave 4 and wave 5 is running.... it has either finished or it will be completed today. We have five waves higher, price struggling with the resistance zone and MACD/RSI divergences - the plan stays the same pullback for a few days. From trading perspective no change, only the area for the pullback is now 5 points higher 2075-2080 around the trend line and MA200. If the price moves below 2070 / 50% Fibo / the lower trend line / MA200 something more bearish is developing. The danger is that this is the top of the move which begun in February, but we will watch how the decline develops and second the stop is very tight so the risk is not so high.