MBO Issue 46 (Oct 2015) War Time
- Euro In Complex Weekly Bear Flag Formation
- S&P In Breadth Correction Mode
- Gold Bearish Scenario Intact
- Big Picture Summary
Euro struggled around 1.12 yet refused to go below 1.11. Attempts from European officials to pop euro back up through rumours and lies continue to affect euro price level but failed to launch euro higher.
S&P bulls tried to push it higher like the past few times back in 2013 and 2014 but it does not work this time. A retest of the August low has happened and the potential of establishing higher timeframe down trend is greatly increased.
Gold continues to go sideway and disappoints its fans.
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