Look at charts in previous post...seems we are taking the red path for now..but we may be in process of setting up for a higher low and then a more sustained rally? The key will be the lows in November holding....Looking at various weekly charts..EUR/JPY, GBP/USD, OIL....all look oversold...however on daily charts most have formed flags....so another leg down may be on the cards.... see charts above...
This leg down may be short and sharp...final exhaustion...last of the sellers - at least for a while!!
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