Following on from my earlier post on the OMX, today's price action definitely shows the bears are beginning to take control of this market. As can be seen in the chart above (click on chart for a larger image) the OMX has had a false break higher to 810.03 followed by weakness which has broken minor trend-line support and also closed below 755.53. This now warns that bears are in control and as detailed in my earlier piece I still favour a fresh low in this market.
Accurate and well thought comments. I follow it regularly and implement the recomendation.
ReplyDeleteExcellent analysis. Has been Very profitable for me.
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