Sive Morten
Special Consultant to the FPA
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Good morning,
yesterday upward action has not broken overall situation on daily. From the daily perspective we probably still need more confidence, that we could get if market will pass through 1380, but yesterday's move up has formed Butterfly "Sell" on hourly chart with W&R of previous tops. Thus, we can't exclude that move down could start by this pattern:
The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.
yesterday upward action has not broken overall situation on daily. From the daily perspective we probably still need more confidence, that we could get if market will pass through 1380, but yesterday's move up has formed Butterfly "Sell" on hourly chart with W&R of previous tops. Thus, we can't exclude that move down could start by this pattern:
The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.
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