Here goes a short overview of several markets that I analyzed over the weekend. We do see some interesting market behavior in WTI, NZD and Gold is actually about to move out higher on the daily chart. Let’s see how it pans out.
That World Indices are not collapsing during the next trading days as was assumed during the beginning of the year, should be clear by now. So far trendfollowing has taken care of us well in 2016, no matter if markets are up or down, no matter how much they are up or down. Looking at the Nasdaq chart we can see some new developments that are worth mentioning in this regard.
Even though 2016 started off as a massive down-year, closing out the week this Friday we’re ending the first trading month of the year with markets at least breathing a little bit. Some important support areas have been hit, and price wasn’t able to move through these levels towards the downside, instead it reversed quite obiously in all major World Indices as well as some other markets. Let’s take a look..