Tuesday, August 04, 2009

Market Update - Aug 4th '09

There we are. 1000.
What next now ???

There is still substantial buying pressure to dissipate. Prices should stay high today again, probably due to some residual momentum trading. TF could even breakout from the 562 resistance area and aim for the next Fib target near 600. A pause (or very minor retracement) is however likely in the short term.

( posted 8:15 AM UK )