Friday, April 10, 2009

Market update - Apr 10th '09

ES is still certainly incredibly resilient, as if if wants to hit 875 before starting its awaited retracement. It is however extremely overbought on the 1H chart, so will be a good candidate to halt its rise on stall level just short of 870. Until then, as always, we'll go with the flow...

Note however that thinner trading may affect this outlook.

The situation on ER (aka TF) is quite similar however it has already reached resistance level on 468 so would be prone to retrace, if only slightly at first.

More details on the weekly report tomorrow.

( posted 8:40 AM UK )