End of first quarter is here. Whatever we think about 3 months rally as sellers taking profits or buyers found foot hold not matter much, most important markets no more one sided and calm a bit.
Still 2018 last months left scars in financial confidence and risk appetite, which can be observed thru recent data releases. PMI reports, mortgage numbers etc.
Financial results combined with lack of closure in Brexit matter and China / US trade talks can create another wave of pressure. Other hand long waited good news can push markets in to euphoria chase.
Technical approach to financial analyse get slightly more accurate but will not prevent or forth see hype blow or panic retreat.
Be vigilant, don’t sleep over in “nothing can happens” as 3 months rally can get reset in matter of days or market can charge like crazy bull on news.
So far we build house of cards. Need time for foundations to mature and become solid base.
Next Week or 2?
Buyers have to drop that sneaky tactic and take off from this levels, staying too long near major down trend is bad idea. Final push go go!
Targets 12k / 12.3
Last chance to reload shorts between 11530/660 ish for next leg down. Main targets will be test of or near by 2018 lows.
Target 11,150 / 11k
So as we can see both parts have to do it! No more room for consolidations and slacking around.