If you lose your shirt in a crowd, it's likely that someone else will be wearing it shortly after. Daily 50 Period & 100 Period Moving Averages are nearby.
I think typically, MA's and Lines on a chart are only useful if they are respected. This Shiff has been monitored closely during recent price action, and thus far, has proven useful with respect to confirmations.
I have no idea where the market is going, but here are some observations that may be indicative or probable based on some those confirmations.
Daily 50 Period MA has been useful, strong - recently seeing decent bounces. The Daily 100 Period MA is nearby, but it has not been tested as of late, but probable as a useful benchmark. These median lines have many confirmations and are providing a channel to gauge demand areas.
Recent swing high moves are observed at nearly identical 13.60% and 13.82% climb.
Certainly an Elliot Wave TA out there can make sense of a probable next move.
Good Luck, Traders. May you find yourself on the profitable side of it.
I think typically, MA's and Lines on a chart are only useful if they are respected. This Shiff has been monitored closely during recent price action, and thus far, has proven useful with respect to confirmations.
I have no idea where the market is going, but here are some observations that may be indicative or probable based on some those confirmations.
Daily 50 Period MA has been useful, strong - recently seeing decent bounces. The Daily 100 Period MA is nearby, but it has not been tested as of late, but probable as a useful benchmark. These median lines have many confirmations and are providing a channel to gauge demand areas.
Recent swing high moves are observed at nearly identical 13.60% and 13.82% climb.
Certainly an Elliot Wave TA out there can make sense of a probable next move.
Good Luck, Traders. May you find yourself on the profitable side of it.
