CARBORUNDUM UNIVERSAL - SOME OBSERVATIONS

31 août

We can see Volatility contraction, clustering of closes and contraction of spreads. So, we can see some expansion next week. If it is on the downside then it will go below 1500 which will a "Break of Structure" on the weekly. So, if someone is holding, time to book profits. If the expansion is on the upper side the stock will test 1840 levels. The background is weak with the negative Relative strength and Money flow.