The speed of the current uptrend has been slowing down for over a week, but as long as it continues to stay above key support level, the trend can continue to crawl upwards. It can also re-accelerates upward.
Key level for Monday is 2605.
- Above 2605 implies the the next upswing is in progress targeting 2620-2630.
- Below 2605 implies it is in pullback mode targeting 2590. A sustained break below 2590 implies a more series pullback is in progress, next target down is 2570-2580, then 2555-2560
In the meantime, bank-run in Greece continues, and G20 finance ministers are preparing to print $2 trillion to bail out failing banks and countries in Europe, bullish for real assets including gold, silver and crude oil because it seems central banks are determined not to let the debt bubble to deflate.
