wyrd wednesday, page-14

Hi Mongo

Just to comment on your chart. A rally is possible and I think it needs to retest at least 1060 before heading down.

The inverse head and shoulders are also part of a bigger head and shoulders pattern going back to november 09 and It looks extremely bearish in my oppinion. Its not a clean pattern but its there and its looking at at least 800 on the down side.

The fact that is has paused at 1050 could indicate maybe a rally but I think we'll be testing 1000 before testing 1100 again. So hence looking to short around 1060 or better level. I'm a bear for a while yet.

Cheers

Poul