Overnight the A&E could not break out. At this big resistance, it seems fairly normal, that people started to take some profits. The big question is now, do those swap to open short-positions? So far, we simply don´t know. The first drop got us below the Monthly Pivot and stopped at the SMA200. The A&E has not failed yet. A little sideways between P-M and R1-W would be ok and possible if building a top horizontal as breakout-zone. Price levels stay where they are, nothing changed.
Monthly Pivot is key now. This needs volume on a break-attempt or it will likely fail.
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Warm regards,
Neru
Monthly Pivot is key now. This needs volume on a break-attempt or it will likely fail.
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Warm regards,
Neru