Interesting week behind us with quite some volatile prices. S&P500 closed the week in red and below MA20. The short term pattern has been 3-down , 2-up , 3-down , 2-up and now 3-down. Obviously the uptrend is not that strong anymore but I’ve have mixed feelings about the coming week (at least monday and tuesday). At the moment I have no idea but I’m slightly bullish if/when we go above ~1405. Better levels etc. coming later when I have had the time to go through more charts.
SPX:USD, still higher highs and no lower low yet.
SPX:GOLD, resistance ahead but usually some kind of double top before any significant pullback should be seen or divergence between SPX:GOLD & SPX.
It should also be noted that GOLD is trading below MA200 and just at MA300 which is very important support for gold. Below ~1600 and the yellow metal is bearish in my eyes. Better update coming later.
Happy Easter!
