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TFC Commodity Trading Forum

Dec Emini/ Hanging in there *PIC*

The Dec Emini broke its 1 year uptrendline and stayed below for two weeks. Price then re-cleared 1388 price resistance and the broken 1 year uptrendline and rallied through 1404 once again. Very odd breakdown and rebound. Not surprising it seems with current financial conditions. Price is holding above 1404 which is between the Fib 50% and Fib 61.8% retracement level and respecting the old 1 year uptrendline and 20ema once again. A break below that uptrendline would be very bearish and a break above the recent rally high around 1425 would suggest a rally to a double top. Could go either way and could be fast and furious when it occurs. Definitely would not want to be on the wrong side of the next move.