sp'60min
Summary
So... we'll be trading in the sp'2070s this morning, and I'm guessing we'll get stuck there.
All things considered, it will be a valid area for anyone currently long to make an exit... and also a very natural re-short zone.
Price structure is arguably a multi-day bear flag... that stretches back to the Wed' morning low of sp'2045. If it is... then there is straight forward downside to at least 2039 in the next wave.. if not the 2010s, where the 200dma is lurking.
First things first though... lets see if we can get stuck by 11am this morning.
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Update from Oscar
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Doom chatter from Hunter, with PCR.
I'm no fan of PCR, but there are a few bits in there worth catching, not least his feisty rebuttal against Hunter on Iran, highlighting how the western powers have been meddling for decades. It remains pitiful how ignorant most people are in not knowing that the USA/UK overthrew a liberal - and democratically elected Iranian Govt' in the 1950s. Why did they do that ? Ohh yeah, to get hold of the Oil at a better price than the Iranian leadership had offered to sell.
.. but we're the 'good guys... right? Thus concludes today's history sermon.
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Have a good Monday