If you check the previous retracements (in recent times) the speed angle is usually around 2-3c. If this repeats, then from a high of 21c, we should have been looking somewhere around 18c for stability. It's obviously gone a little lower this time so perhaps a bit of weakness creeping in, hopefully EOY selling as some suggest.
Stochastic is showing reasonably oversold so it will be interesting to see how things play out with oil teetering on a break out one way or another.
NDO Price at posting:
17.0¢ Sentiment: LT Buy Disclosure: Held
