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VIX, Oil, BRICS & Sterling's Sell-Appeal
BRICS equity indices fail at key fib retracements, VIX and oil near major trend lines and sterling's sell-appeal hasn't looked this good in a while.
Ashraf
Why are your short term views on Crude for this week?
Regards
You are right that the net short contracts on sterling increased 30%.
Of the 87K contracts on sterling 75K (86%) are short. To me that looks like an extreme net short position - a substantial bounce could be on the way. and i bet since the COT data (Oct 6) the shorts would have increased further
the bounce from 1.5730 today could take us back to 1.6+
likewise on CAD - the number of contracts net long doubled over the last week (88% are net long) - again quite extreme.
vik
CORRCTIVE
WE had AN EXTENDED WAVE SO 9844 NOT THIS MORNING. neither today
MY PROJECTION FOR TODAY ARE AS FOLLOW
9844 WITH A RETRACEMENT OF 23PERCENT
9802 WITH A RETRACEMENT OF 61PERCENT
http://www.buyusa.gov/uk/en/us_bank_holidays.html