Yesterday I was keeping an eye on the 50/200 day SMA cross in combination with support breaking down at $9,750. However, soon after that happen the price rebounded and the stop loss was hit. Such is the life.
Now I consider us in a no trade zone and am waiting to see what happens.
I expect us to retest $10,600 - which is the 200 day SMA and the bottom end of the trend we recently fell out of. This should occur sometime in the next 24 hours.
If we can break/support $10,600 then I expect the price to re test $12,000 very soon.
Now I consider us in a no trade zone and am waiting to see what happens.
I expect us to retest $10,600 - which is the 200 day SMA and the bottom end of the trend we recently fell out of. This should occur sometime in the next 24 hours.
If we can break/support $10,600 then I expect the price to re test $12,000 very soon.
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