Prices are attempting to regain the 200-day moving average after breaking below it three sessions ago. The 200-day moving average is at 95.9 cents. If prices are unable to regain the moving average by June 16, they are unlikely to do so and the attempt would have failed.
As it is, the 50- and 100-day moving averages are turning down. Quarterly momentum is in a downtrend, short rebounds notwithstanding, and directional movement indicators are negatively placed. A short-term move above 95.9 cents would erase the negative signals. If not, the downside is around 80.
No comments:
Post a Comment