Lots of excitement generated by a forceful bounce off oversold conditions in ADX and DFM.
The bounces occurred at or close to some big FIBO levels, so some basic charting techniques and a good dose of bravery would have allowed you to profit handsomely, beginning at levels offering good risk to reward ratio.
Where to now? This time the bounce coincided with a rebound in American markets, as well as some more strength in the Euro against the Dollar, and a good bounce in crude oil, and general weakness in the Dollar last week. The American markets have disheartened the bears, I would say, and revived bullish sentiment in the market. The grounds for the positive performance of global markets have been shaky at best, and remind one of people clutching at straws…
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