Seeing more selling with a new low today for M1….
May see some short covering near 2.10….
More weakness below…
Can it head towards 2.00 as mentioned?
Cautious….
We had a Bearish signal 2 weeks back before the sell down…. Grads can check it out…
Recent Email:
Sent: Friday, October 21, 2016 11:44 AM
Subject: ************ M1: Breakdown to new low below 2.20... cautious, a negative short term... price 2.16
Subject: ************ M1: Breakdown to new low below 2.20... cautious, a negative short term... price 2.16
M1 has broken below the 2.20 KEY SUPPORT level that has held since 4 years ago. Managed to stage a good rebound from it at the beginning of this year but over the past few days, a firm break through. We can see more downside from here with 2.20 as the new resistance now, with target to 2.10 then 2.00. Sellers are back in control with longer term trend still weak in general. Cautious long.
For illustration purpose only
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