Thursday, January 21, 2010

Sellers keep on selling

According to the system that I have set up on the image below Intermediate-Term Sentiment has turned bearish. I use the trend on the daily chart to determine the intermediate-term trend where a close above the Simple Moving Average by a small percent is considered bullish and a close below the Simple Moving Average by a small percent is considered bearish. The break below 112.65 today put the sentiment on the intermediate(daily)term to bearish. Long term (weekly) sentiment remains bullish. Click on image to enlarge.

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