The market has taken some profits after gains from February’s low. But after a sequence of 3 negative weekly performances, and a correction of half of that upside, this week has seen a renewal of demand for the cross.
Yesterday's strong gains dominate that upside with the move taking prices through the key 13 day mvg avg and turning the important Keltner channel positive.
Trading is likely to continue to be volatile but setbacks are likely to be limited by 25.755, a Marabuzo line, on a closing basis.
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