Monday, 14 June 2010

Resistance at 10240

I think the index's failure to close over 10240 is not a good sign. However if we then see more narrow bars created as we moved toward June's TWW then it could be a coil developing for a big push upwards.
If the index drops sharply over the next 2 days then it looks like this is just prelude to a big drop
Gold is holding just above it's 20 day moving average. Without a big push over the next week it could very well drop away.
Have done some minor bits of dealing. Lost a small amout today (went from +20 to -15) but I guessed correctly that past a certain point the index would keep dropping which it did another 30 points past my stop loss.

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