Apologies to Solange for the delay but as she pointed out yesterday, there is a strong downward trend line on the daily chart which repelled yesterday’s advance quite impressively. The medium term trend is down and the short term trend is up. The question still to be answered is whether the short term trend can stay relevant and gain ascendency, thereby turning the bear into a bull, or if the medium term trend can stay in control. I’m in the bear camp as long as prices stay below 128.00.
