With the most recent price action off of lows, we have pushed above the 200 D EMA.
We now see resistance sitting with the 200 D volatility adjusted moving average at ~5600$
We may be able to push through to this level, but this looks like a good area for a healthy retracement b/n the 0.382 and 0.618 ranges.
Most likely we find support ~4600-4800$ back around the 200 D EMA.
*Note - retracement zone is based off my own perspective of the current minor EW count.
We now see resistance sitting with the 200 D volatility adjusted moving average at ~5600$
We may be able to push through to this level, but this looks like a good area for a healthy retracement b/n the 0.382 and 0.618 ranges.
Most likely we find support ~4600-4800$ back around the 200 D EMA.
*Note - retracement zone is based off my own perspective of the current minor EW count.
