bit of a chart update from fn...The trend for SXY has looked...

bit of a chart update from fn...

The trend for SXY has looked positive during the last year. The initial peak for this year came in May, before the shares eased back for several weeks to consolidate the move. With SXY then gapping higher two weeks ago, it now looks almost ready to resume the uptrend. We are likely to see some weakness in the next few days as it struggles with the 49.5c level, but after that we should see it move higher. Short term resistance exists after that point near 52c, but then after that level we would be looking at another resistance level up near 65c.