Price rejected by 50MA (the 1D 200MA is at the same
level). A close through $8,500, to break these
The last two candles & evince very healthy
i. The MA resistances are unlikely to arrest momentum
without their significance undergoing a more
Assuming (i) is true, the question becomes: what will
happen when price transcends these M.A.s ?
ii. It is likely that price will reject, at least
initially, from the Fib retracement level at $9,100.
is resetting bearishly, and could
cross over simultaneously with the printing of a LH.
But in this case, the M.A.s would then be supportive
of price. This could present a setup.
iii . Price could immediately move up into resistance
under $10,000, & the macro Fib level of 0.5. The chance
of this resistance holding without price having made a
healthy consolidation, could present an ideal opportunity
to go short.
For now, the first support is $7,700 - $8,000.
The first resistance is these two M.A.s under
P.S. Monthly sell signal on , and Weekly buy signal...
Watching the Stock .