Just a few observations on the short-term picture before Monday’s market open.
Prices have acheived the upper channel on the 135 minute chart. The net-line sell level on that chart starts the week at 1011.75, and could move higher if the rally continues. The modified DMX reading of 53.34 indicates a strong trend. This may be at a level that suggests a spike reversal is possible, but one should not take any stand against this trend until such a reversal is clearly seen in the market. We aren’t there yet.
click chart to enlarge