As predicted, we saw the intervention of the ECB and this week we will probably see the Fed and Bank of Japan.
The short squeeze, depending on strength, has targets area 1,920, 1,970 and then 2,050. (it would be ASX200: 5,350/5,400 approximately).
On a technical analysis point of view the graphs says “it’s a trap!!”.
Unless it clears the all time highs 2,130 – the targets between here and October at 1,785, 1650 and, on panic, a spike on the 1,550 (ASx200: 4,000 or lower!)
Yes the Reserve Banks could negate this pattern. And that is why I say “a game too dangerous”.
But it definitely looks scary
investorpolitico 