ridethepig | RUB Spot Commentary 2020.01.20
Now bull's reserves have been activated and exhausted, the diagonal swing towards the new lows at the key 60 handle is the aim. This momentum play is a characteristic impulsive swing. The moves constitute a great example of the lust to exploit the brilliant effect of technical analysis, because of the accuracy that is endowed with incredible resilience.
The first compelling chart shows the highs being set in this monthly swing; the total removal of its lows opened up the same flows in EURRUB:
The swings we have just glimpsed at are quite typical and although it will likely not feel necessary here, the importance of in checking the 60 handle for headlines and masses. Mostly only one player benefits from this entire flow, but that is quite sufficient.
I expect sellers to show some strength over the coming days and weeks. A lot of talk of few large hands in Oil buying dividends. In any case looking for the infamous 60 target.
Thanks as usual for all the support with likes, comments, charts and etc. Jump into the conversation with any questions.
The first compelling chart shows the highs being set in this monthly swing; the total removal of its lows opened up the same flows in EURRUB:
The swings we have just glimpsed at are quite typical and although it will likely not feel necessary here, the importance of in checking the 60 handle for headlines and masses. Mostly only one player benefits from this entire flow, but that is quite sufficient.
I expect sellers to show some strength over the coming days and weeks. A lot of talk of few large hands in Oil buying dividends. In any case looking for the infamous 60 target.
Thanks as usual for all the support with likes, comments, charts and etc. Jump into the conversation with any questions.
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