Emini Update – Friday 14 Mar 2014 (11:49)
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On Tuesday I thought the cyclical energy was exhausted and it was time for some trend breaks – to the downside. And we’ve had a nice 3 day selloff.
The next logical place we’d find support was the Pull Back on 135 minute chart. But we’ve just busted straight through that. So next place down is daily support – and that’s a few days away. And we’re just sitting on a ledge on the 45 minute chart.
So I’m looking for that to break Sunday into Monday and for it to develop into a trend move on the 45 minute chart. Should tie in nicely with elections on Sunday for Crimea to secede – if they go ahead.
Enjoy your weekend.