MBO Issue 64 (Apr 2017) We Don’t Know What We Don’t Know
- Euro Weekly Bear Flag
- S&P Bear Trap or Long Term Top
- Gold Breakout Mode
- Big Picture Summary
Euro attempted to push higher off the false break out setup as expected but failed to clear the 1.09 open gap resistance zone which is also not a surprise for that has been the long term support in 2016.
S&P500 bounced off the channel support on first test but then ended up forming a lower high and breached the channel support since. No serious damage to the long term chart so far as weekly uptrend is intact.
Gold struggling around 2016 midpoint as expected. Consolidation until a new direction is found.
Overall March has been a quiet month waiting for fireworks going into 2nd quarter this year.
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