By Peter Stoneham — May 06 - 02:15 AM
Corrects month in headline
Price sold the market a dummy Wed with a feint to the topside before lower
Subsequent slide through the base of a bearish pattern was aggressive
Market still offered early Friday despite o/s indicators
We stood in front of the bear train Thursday, will now adopt more caution
Still looking for a sizeable adjustment but stronger signals needed
Overall risk to 1.2252 June 2020 low but we stand aside for now
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Source:
Refinitiv IFR Research/Market Commentary