Morning update, Tuesday, May 5th

This morning has gone one-way only: up. After the open we had a small retrace down, but the uptrend resumed: there was an ambush long this morning in the 4320s, which stretched from the 4300 support we had last night to the pre-open high.

Let's see if we retrace down and see strength in 4340s, which is an ambush long from today's lows to the highs we have had (up to now...), so to put on a scalp.


Update: at around 2pm UK time, I am beginning to see some weakness in momentum on hourly charts. Am watching as we are in the 4340s and approaching the 4330s but still flat.