A close back over the medium ma (currently 1.1666) which supports the weekly key reversal from last week but counters the bearish stick sandwich pattern also possible…we’ve moved higher today towards last week’s high…and also a more neutral stance.
A bullish long white marubozo as we again tested on the upside the first of the 50% fib resistance levels at 1.3139 and closed over it…today we’re having a further try higher and seem to be breaking the medium MA (currently 1.3164)…we have further 50% fibs at 1.3177 and 1.3233.
A follow on lower yesterday to the previous session’s daily key reversal down…we’re very close to the medium ma support (currently 0.8862) and though we’ve made a new low today we have also bounced up from this support and the adjacent recent 50% fib at 0.8859…don’t forget the lingering impact of the weekly key reversal down two weeks ago.
To read the full report, see below:
Disclaimer: ADM Investor Services International Limited is authorised and regulated by The Financial Conduct Authority. Member of The London Stock Exchange. Registered office: 4th Floor Millennium Bridge House, 2 Lambeth Hill, London EC4V 3TT. Registered in England No. 2547805 a subsidiary of Archer Daniels Midland Company. Risk Warning: Investments in Equities, CFDs, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value, investors should therefore be aware that they may not realise the initial amount invested, and indeed may incur additional liabilities.
These Investments may entail above average financial risk of loss, and investors should therefore carefully consider whether their financial circumstances and investment experience permit them to invest and, if necessary, seek the advice of an independent Financial Advisor. Some services described are not available to certain customers due to regulatory constraints either in the United Kingdom or elsewhere. © 2014 ADM Investor Services International Limited 2014.