They broke over the wedge on futures, so I expect a retest and then higher.
With Powell speaking today, a sudden spike down could occur but I still think the 18ma weekly and daily at about 3920-3900 would hold the price as support - no guarantees though. There's a gap on futures at 4020 which should get filled soon, from there it's possible we have ANOTHER move down to complete a triangle or we just get that higher wave 5 over with. These events are hard to anticipate, so please be careful.
I'll be away from my desk today, good luck!
With Powell speaking today, a sudden spike down could occur but I still think the 18ma weekly and daily at about 3920-3900 would hold the price as support - no guarantees though. There's a gap on futures at 4020 which should get filled soon, from there it's possible we have ANOTHER move down to complete a triangle or we just get that higher wave 5 over with. These events are hard to anticipate, so please be careful.
I'll be away from my desk today, good luck!
Kommentera:
close up of wedge, maybe test is over, hard to tell before open.
Kommentera:
green trendline resistance needs to be overtaken by bulls
Kommentera:
last push up confirmed, Probably push into tomorrow but not much farther.
Kommentera:
expecting resistance at the high of the breakdown candle - 4100ish
Kommentera:
4 hr rsi from the very lows to the very highs in about 3 hours, a warning sign that this pump will not hold for long.
Kommentera:
economic numbers tomorrow at 830 us.econoday.com/byweek.asp
