ov – the previous wave made a higher high and a lower low suggesting the trend lacks direction, and has the potential to enter a consolidation phase. Caution on a close below USD 18,050.
Cape Q4 17 – Like the Nov futures we have the potential to enter a consolidation phase with the stochastic suggest upside moves could be limited. A close below USD 17,630 would suggest downside continuation and consolidation would be unlikely.
Cal 18 – Technically bearish, there is a potential that we could see a bullish divergence on a close below USD 13,374. Market sellers need to be cautious they do not get caught on a false breakout.
