Has it fallen out of this ascending green triangle? It has clearly failed to make it to the top, not to mention a new high. I find it weakening, unless the market holds some surprise up the sleeve. So anything can happen: it can summon all the strength it needs and break out to the up side, or the flagging bahaviour will continue and we'll see further decline. The CAD doesn't seem to be strong enough for the corrective scenario and the sterling has weakened somewhat, esp. against the AUD. So I'm wavering but a little bit more bearish than bullish.
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ForceFollower
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2014/01/30, 15:30 GMT. We've had two rejections of the green trend line - a switchback resistance, reinforcing the bearish scenario.