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Re: Dx ??/Trades/Lee *PIC*
In Response To: Dx ??/Trades ()

DX is very overbought and should pullback for awhile. It did breakout over 82 which is bullish but is likely to pullback again as DX isn't exactly like a stock or commodity breakout where price is respected as support rather than resistance when cleared. DX just has so many components and does charts reasonably well technically but will have breakouts and breakdowns that recover quickly and are not as respectful of these previous prices as much as a stock or commodity. So see the CCI 20 showing a very negative divergence on the recent 82 high. Also note the RSI 21 bumping up against the very overbought zone of 70. Check out what happens each time that occurs. Also note the Fib 61.8% retracement pt just ahead which is also resistance and often stops a rally in its tracks for awhile. DX could pullback to 80.43 or even the broken downtrendline near 80 before it rallies again. This means most other inverse markets should rally from here for awhile. While this doesn't seem like much of a pullback, DX being a double digit number should really be a 3 digit or 4 digit number to really reflect its magnitude on inverse markets. A slight change will see inverse markets go crazy the other way. So it is far too sensitive being a double digit number for my liking in watching technicals. But so far DX is over 82 and could continue on the upside for awhile as there is little to stop it in here. But with the overbought technicals I suspect there will be a pullback on some b.s. story out of Europe or some such "happy news' to justify a DX pullback and market rally of all kinds. Most markets despite some serious damage done to their charts are very oversold and due for a bounce back.That's what I'm looking at,fwiw..............

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Dx ??/Trades
Re: Dx ??/Trades/Lee *PIC*
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Re: Dx ??/Euro//Lee *PIC*
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