Trader's Logbook

MEG is now testing its support at 3.33 which was the breaking point last time when it went up to as high as 3.52. Are we going to find our support here or bears will be more aggressive? Will it create a range of 3.33 – 3.52 forming a rectangle before continuing to go up? Better to monitor the action. As of now we are at the mercy of its support line. Next support might be around 3.20.

Caveat!