This is a short sale trade I've been watching; it's already in a downtrend-see the small red arrows marking lower highs and lower lows. There's a zone of support at the bottom trendline, although it doesn't look especially strong. Once that support breaks, the down trend will have resumed from this short lateral consolidation. I think the trade can be taken here with a stop above the recent consolidation zone (above the top red trendline).
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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