I closed my short position on Friday.
There is a little more room for downside, but we are basically on support.
I will follow a wait and see apporach today and tomorrow.
Top of the wedge will be the target if some market strength returns.
If we break support to the downside, a failed retest of the breakout line will be a good place to short. I am cautious in the medium term and will remain nimble.
Geo political instability and rising US treasury yields not doing markets any favours.
We also need to keep an eye on oil prices.
There is a little more room for downside, but we are basically on support.
I will follow a wait and see apporach today and tomorrow.
Top of the wedge will be the target if some market strength returns.
If we break support to the downside, a failed retest of the breakout line will be a good place to short. I am cautious in the medium term and will remain nimble.
Geo political instability and rising US treasury yields not doing markets any favours.
We also need to keep an eye on oil prices.
