Monday, March 25, 2013

Week 13

Hello there,

Well, if it wasn't now it is. Market is pretty ugly right now and all my expectations didn't ocurred.

The firs support I drew at 56,000 has been lost and now we're aiming 54,400. But if you draw a Fibo in this chart market could be aiming even lower like 53,000 points.

MACD Line is crossed down and news around Cyprus and Europe aren't positive even though I think that if market is affraid of Cyprus economy we all can go back to caves and forget about a globalized economy.

Even with all of these bearish analysis I feel that we're oversold here, so I'm watching Vale (VALE5 - $VALE) carefully.

MAGG3 that I posted last week droped  badly but if we had gone long, stop was just below the low of the day so wouldn't hurt much capital.

Let's wait and see what market brings to us until next week.

Have a nice trade!

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