Hi traders,
We saw high impact events last week, most notably the UK general election on Thursday. The market reacted positively to the Conservatives retaining majority. However, the following day price closed lower than the open rejecting off the 200MA and 111800 handle on positive dollar flows.
The stochastic crossed bearish, we can look to take short plays to the 110800 handle if we stay below 111240.
All the best,
Aardall
We saw high impact events last week, most notably the UK general election on Thursday. The market reacted positively to the Conservatives retaining majority. However, the following day price closed lower than the open rejecting off the 200MA and 111800 handle on positive dollar flows.
The stochastic crossed bearish, we can look to take short plays to the 110800 handle if we stay below 111240.
All the best,
Aardall