Key resistance of $13,000 has been broken and the market is now attempting a retest of the $12,000 level.
A bearish pennant is forming, which will likely result in another strong down test of key support areas during the New York session.
Key support lies at $11,000, followed by $10,700 (long term support) and then $10,000.
If we see longer term candles close below 10,700 ... hold on to your pants, this will likely signal a significant longer term bear trend change.
A bearish pennant is forming, which will likely result in another strong down test of key support areas during the New York session.
Key support lies at $11,000, followed by $10,700 (long term support) and then $10,000.
If we see longer term candles close below 10,700 ... hold on to your pants, this will likely signal a significant longer term bear trend change.
