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Support becomes Resistance

April 9, 2018

Hi Traders.

 

We trust that you all had a great long weekend. April is always a very disruptive month with all of the public holidays and long weekends. The market often reflects this uncertainty.

 

This week, after having broken through the upward trend of last week, we have now started to form what looks like a downtrend. The price went down nicely until last Wednesday (4th April) where it seemed to run out of downward momentum.