The bulls battled back a second time to end the day well off the session lows. This time, however, the buying is more forceful and convincing, compared with the erratic buying that occurred previously. Still, the day has ended below the EMA, so if tomorrow's session continues lower still, a short position on the daily chart would be confirmed for me.Thursday, April 24, 2008
Bulls Battle Back Again
The bulls battled back a second time to end the day well off the session lows. This time, however, the buying is more forceful and convincing, compared with the erratic buying that occurred previously. Still, the day has ended below the EMA, so if tomorrow's session continues lower still, a short position on the daily chart would be confirmed for me.
Labels:
EMA,
Exponential Moving Average,
soybeans