Prices have continued to climb and now look ready to challenge the 200 DMA at 2742 in the next day or two. The counter-rally was expected after the sudden and strong sell off in December but the strength of the move in the past few weeks does challenge the general bearish pattern in place. It remains to be seen if prices are able to recapture the 200 DMA, if they do, then this market is not ready to give up just yet.
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Short Term Trend = Bullish
Medium Term Trend = Bullish
Long Term Trend = Bearish
* Trends are not trade signals. Trends are posted for situational awareness only and does not take into account wave counts, technical or fundamental conditions of the market. While mechanically trading the posted trends is feasible, keep in mind that these are lagging indicators and as such are prone to whipsaws and I personally do not use nor recommend them to initiate or close positions in the market without taking
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