In short - Since hitting our high we have been in distribution mode, sadly, as seen by a laddering down (lower highs formed). We had broken two hold levels.
Should we fail to attack $32850 will see $32000 be resistance also.
Bulls need to attack 32850 break out level.
Bears need to defend 32000 hold level.
Simple as that really!
At the moment the 32850 is not being attacked thus l can see further down side is required before uptrend can resume in the shorter time period.
Feel free to ask if you have questions.
Best Wishes.
Should we fail to attack $32850 will see $32000 be resistance also.
Bulls need to attack 32850 break out level.
Bears need to defend 32000 hold level.
Simple as that really!
At the moment the 32850 is not being attacked thus l can see further down side is required before uptrend can resume in the shorter time period.
Feel free to ask if you have questions.
Best Wishes.
Kommentera:
I was wrong bounce off trend support and up we go. Bullish Again.