Retrace to trendline before run to 1950/2000 area?
Following the vertical move from these past couple days, it feels like we are due for a retrace and that we already reached the top area. We do not exclude the possibility to retest it before the dumps start.
A fast retrace to 1650/1700 area could happen in a couple days time followed by couple additional days of consolidation before we take off from the trendline considering the very bullish outlook on the weekly and monthly timeframes.
Even though I am short I do not recommend shorting this retrace, point of this chart being the buy zone and future outlook.
A fast retrace to 1650/1700 area could happen in a couple days time followed by couple additional days of consolidation before we take off from the trendline considering the very bullish outlook on the weekly and monthly timeframes.
Even though I am short I do not recommend shorting this retrace, point of this chart being the buy zone and future outlook.
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