Loading ...Wedge and Fib Report
One reason I doubt the long term sustainability of commodities is the Emerging Market Index. There was a break down on the weekly chart and we appear to be in an expanded flat correction. At 38 you have a 61.8% retracement and C=1.618*A. A little above that is the monster neckline.
So this could go down after a back test if I understand correctly…
That’s what I’m thinking. A move higher short term coinciding with a bounce in oil. At 38 this and oil would be good shorts. I sold my SCO at 93 last week when it hit resistance. It should be a great play later.