Bearful Thinking
Basically just a summary of some bearish thoughts for the next few days:
- Resistance at 530-550 is likely strong, see former price action.
- A moderate 38-50% retracement after the recent rallye would be healthy.
- Confirmation of the long term trendline is possible and desireable, but due to the overall bullishness price might not reach that line completely. Chart shows the maximum move, place bids well above that line to make sure you catch the train.
- Resistance at 530-550 is likely strong, see former price action.
- A moderate 38-50% retracement after the recent rallye would be healthy.
- Confirmation of the long term trendline is possible and desireable, but due to the overall bullishness price might not reach that line completely. Chart shows the maximum move, place bids well above that line to make sure you catch the train.