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TFC Commodity Trading Forum

Re: DXZ12 /Lee *PIC*
In Response To: DXZ12 /Trades ()

DX is tagging its 20ema again which tends to act as resistance. And just above that is the downtrendline at 80.65 which is 1/2 pt away. So price got oversold with the RSI 21 below the 30 line which is rare and has typically bounced back from there. Key to watch now is for price to hold above the 20ema and approach the downtrendline or roll over here after poking its nose above the 20ema like it's been doing since early August. Pulling back below the 20ema would be bearish and warn of another selloff with inverse markets responding higher. Tough to call it right here with the recent bounce approaching resistance points. Seasonal trends for most markets turn very bearish this time of year historically. If that repeats DX will continue to rally.