Price is at a confusing level still, and we're waiting for a proper breakdown signal before we jump into the marketplace. Price had a green candle with a large green wick, and since then, it's been pretty side-wards. There's some technical factors to bear in mind, such as that price is still right at the 20, and 50 moving average resistance level, therefore from a technical standpoint of stance, price is very bearish in this position.
Remember price has had the wick I keep mentioning - and this wick hit the side-wards resistance line. The tricky question here is - does the wick signify the top? Or does price need to retest the side-wards resistance level again before breaking down again? The answer is impossible to answer with an accurate conclusion therefore we can only sit and wait for price to do it's thing for us.
There's no point rushing in.Let's wait for the move to finish for itself. Until then, we can sit on our hands.
Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts!
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Remember price has had the wick I keep mentioning - and this wick hit the side-wards resistance line. The tricky question here is - does the wick signify the top? Or does price need to retest the side-wards resistance level again before breaking down again? The answer is impossible to answer with an accurate conclusion therefore we can only sit and wait for price to do it's thing for us.
There's no point rushing in.Let's wait for the move to finish for itself. Until then, we can sit on our hands.
Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts!
I never ask anything from my supporters, but I do have a small favour to ask of you guys... If you see comments in the comments section that are trolling/insulting to me, or any other person who's contributing to the comments section, then please Flag/Report their comments right away so we can get rid of people that aren't contributing to this site in a good way. Let's work together to make this site a better place for everybody. :-)
Please leave a LIKE and FOLLOW. I'd really appreciate it.
Thank you for your support.
