Also take note that the USD is now testing an important support level. It may take the same amount of time (a week or so) for the outcome of this test to become clear, but these tests are definitely worth our attention...
Monday, March 21, 2011
So Far, Resistance Holds...But Can Another Test of 1320 Be in Store?
Long term resistance in the SPX 1320 level has been identified a while back, and price has shown an affinity for this level with truncated movement above, and now possibly below. It's yet to be seen if the decline below this level has been truncated, but it should be more clear within the next week or so...
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