Well that happened quickly. Posted yesterday I was still watching the support zone of 7400-7750. We had tested the top range 3 times already and saw decent bounces. I was also watching a head and shoulders taking shape. This morning we saw that pattern confirm and send price down quickly. $7400 being the bottom of my ideal range for bulls to hold and thus far they held it by $2.
Bears are pretty strong and no significant bounce off that bottom yet. Positive is 4 hour and 6 hour charts are oversold. Daily just touching to oversold now so will see how things shake out. Bulls have been pretty quiet last couple of weeks so this sure would be a nice time for them to show up as just not a ton of support under $7400.
Just My 2 Sats!
Bears are pretty strong and no significant bounce off that bottom yet. Positive is 4 hour and 6 hour charts are oversold. Daily just touching to oversold now so will see how things shake out. Bulls have been pretty quiet last couple of weeks so this sure would be a nice time for them to show up as just not a ton of support under $7400.
Just My 2 Sats!
