If there was a downside scenario, a break of $104 would convert the consolidating triangle into a down channel with a target of $98; likely finding support at the early 2009 reaction high.
But in the months ahead commodities - including oil, silver, platinum etc - will likely offer the best opportunities as inflation pressures rise.
It was another busy day for Zignals trading strategy signals, especially for UK markets.
BSE Zignals 1 mil Rupee
New Long Target and Stop for HDFC (Mumbai) at INR2805.9 (EoD): Target INR3115.8, Stop INR2549.3
ETFs Oak
New Short Target and Stop for TWM (NYSE) at $19.36 (EoD): Target $18.23, Stop $22.29
Frankfurt High Winners
Long Confirmation Entry for DPW (Frankfurt) at €13.12
New Long Target and Stop for LEO (Frankfurt) at €18.33 (EoD): Target €19.48, Stop €17.62
Long Exit at Trailing Stop for AUS (Frankfurt) at €7.50
India Oak
Short Exit at Stop for CAIRN (Mumbai) at INR313.4
Indian Golden Brown
Long Entry for ABAN (Mumbai) at INR1234.2
Indian High Winners
Long Confirmation Entry for VSNL (Mumbai) at INR287.3
Long Confirmation Entry for ABAN (Mumbai) at INR1234.2
New Long Target and Stop for BSES (Mumbai) at INR1097.2 (EoD): Target INR1207.6, Stop INR1042.9
Indian Strength
New Long Target and Stop for DLFL (Mumbai) at INR325.1 (EoD): Target INR362.8, Stop INR303.5
New Long Target and Stop for BHEL (Mumbai) at INR2525.4 (EoD): Target INR2788.5, Stop INR2332.2
Short Trender
Short Unacted Entry for MSFT (Nasdaq) at $29.21 (EoD): Entry signal given, but exited position on same stock too recently (5) days ago.
UK Golden Brown
Long Confirmation Entry for LTC (London) at 725p
New Long Target and Stop for LTC (London) at 717p (EoD): Target 796p, Stop 651p
Long Confirmation Entry for FDSA (London) at 1321p
Long Confirmation Entry for LCG (London) at 130p
Long Confirmation Entry for MAI (London) at 147p
Long Exit at Trailing Stop for VEN (London) at 90p
UK High Winners
Long Confirmation Entry for LTC (London) at 725p
New Long Target and Stop for LTC (London) at 717p (EoD): Target 796p, Stop 687p
Long Confirmation Entry for LCG (London) at 130p
Long Confirmation Entry for CCAP (London) at 17p
Long Entry for FDSA (London) at 1321p
Long Unacted Entry for MAI (London) at 147p (EoD): Entry signal given, but exited position on same stock too recently (7) days ago.
Long Unacted Entry for SFR (London) at 195p (EoD): Entry signal given, but exited position on same stock too recently (10) days ago.
Long Exit at Trailing Stop for SSP (London) at 44p
Long Exit at Stop for VEN (London) at 90p
US Oak
Short Confirmation Entry for MSFT (Nasdaq) at $29.21
US Uber Win
Long Confirmation Entry for MSFT (Nasdaq) at $29.21
Long Confirmation Entry for IBM (NYSE) at $128.9
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