USD/CHF, Despite Oversold concerns, Sentiment tracking Keltner channel Lower
|This week's first downside target was met Monday. That investor selling yielded a 4th down day in a row and the most negative levels for 9 months. The speed and scope of this decline ensures signals for sentiment are oversold especially after further downside in Asia and there is, of course, growing potential for an end to the negative sequence. Nonetheless our technical studies remain negative and so this morning’s call is a Modest Sell from 7am but leaving room to also Sell at .9726, Asia’s high. The risk is .9763, this week's open, with downside targets at .9684, .9668 or even .9633.
4 Down Days
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