The Energy complex is testing the highs and could find resisitance. On the other side a break out to the upside would mean a complete new ballgame.
Look at the bottom chart, our ActB MOMO Indicator, and you see we have some room left to the upside for early next week.
Expect a good week for the OIL/ Energy Sector with headswinds approaching.
The happy banks celebrated Angela Merkel knowing that she will bet the farm to save the EURO. To make this more than an oversold bounce we need more upside action. The ActB Indicator has some room left but be aware that we are around the level in the ActB as the last bounce (same is true for Price.....).
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