While the sun is shining and everything feels good...I am a...

While the sun is shining and everything feels good...

I am a linear kind of guy and it seems to me we advance at about 12 cents per day.

So lets say today
Mon 17 $4.60
Mon 24 $5.70
Mon 01 $6.20

... etc ..etc...

So taking roh's nag notice as a reference point 96 days to commissioning...

Mon 17 Dec $11.70


I know...I know... just a bit of fun, but do we have a trend?

For the chartists, Technical analysis 101:

Have you ever heard an analyst state something like“the AUDUSD is overbought and due for a correction”

These terms are used to describe a market condition that is quantified by certain technical indicators. These indicators are called oscillators with two popular examples being Stochastics and RSI.

The scale for both of the indicators is 0 to 100. When Stochastics reaches the level of 80, the market is considered overbought and when Stochastics reaches the level of 20, the market is considered oversold. RSI uses the same scale of 0 to 100, but the value for overbought is 70, while the value for oversold is 30. The idea is when the market reaches either extreme, the chance for a reversal increases.

However, this does NOT mean that a reversal is imminent.

Markets that are in a strong uptrend can remain overbought for long periods of time and markets that are in a strong downtrend can remain oversold for long periods of time. This is why these oscillators have a somewhat limited value in trending markets.