has built a strong head and shoulders
top, especially on the 4 hour chart below. Friday finally saw some bear volume
at close, after a week of oil
, EUR and gold
spiking up lockstep with the movement of the USD. Looking for a difficult neckline break with a backtest to the neckline Grinding upwards along the neckline on low volume
before complete failure. This market is well overdue for a reversal back below $1300. Confirmation level is a breach of $1325.
This is very dependant upon the action of the EUR/USD
. Neutral to dropping and gold