December 16, 2013

Market outlook

It is almost 10.30pm and I realised I have not posted an update so here is a quick one.

Today's very small bar is indicative of bulls lending whatever support they can at lower levels. After 5 days of continuous decline a pullback is very much in order.

Whether this will lead to formation of a 'lower swing high' is something time will tell.

Intraday charts are bullish above 6200 F. In other words, crossing today's high should be bullish.

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