Whats going on guys, on the road but wanted to point out very quickly we have broken out of the short term down trend in green already and have made way to a very important selling range, if we make our way past 420 we have a strong chance to test the major intermediate wave two trend line and potentially a full reversal of the market into wave three of my analysis.
But it looks like we have slowed down and touched the selling ceiling which is about 420 twice already and on the bright side we have a huge buy wall at 410 to 400 so we may bounce from that range and continue along our way to long glory if not if we drop from that most likely a short all the way back down to the 360 to 350 range.
Apparently we have seen a lot of volume action the past few days and appears we just need another big burst of volume to get through a couple of thresholds before we can really sit comfortably and consider a real reversal to be in the cards. However, also be mindful we have a bearish descending triangle in our midsts so be sure to tread lightly because at this stage of the game DOWN is still more likely to go down than we are up, so please keep the stop losses within range for day traders and investors of course wait until we are at a complete reversal.
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But it looks like we have slowed down and touched the selling ceiling which is about 420 twice already and on the bright side we have a huge buy wall at 410 to 400 so we may bounce from that range and continue along our way to long glory if not if we drop from that most likely a short all the way back down to the 360 to 350 range.
Apparently we have seen a lot of volume action the past few days and appears we just need another big burst of volume to get through a couple of thresholds before we can really sit comfortably and consider a real reversal to be in the cards. However, also be mindful we have a bearish descending triangle in our midsts so be sure to tread lightly because at this stage of the game DOWN is still more likely to go down than we are up, so please keep the stop losses within range for day traders and investors of course wait until we are at a complete reversal.
Please like comment or subscribe, thanks!!