Now at 0.565, more weakness? J
Following up from previous sell call, we have indeed seen noble trade lower to near the 0.600 psychological support level. Range would now be from 0.60 to 0.64. Any breakdown below 0.600 can see more sellers coming in to take it lower to the critical 0.500 level. 20 day MA line still sloping downwards aggressively with today’s price action and long term trend still downwards. CFD SELL positions can be used to ride the downside further on clearing of 0.59 - 0.595 buyers. As long as 0.64 – 0.65 is an immediate resistance now, still negative in the short term.