=> What is in play here?
=> To put it simply we are tracking two scenarios... the market is currently trading against strong resistance and we need to get above this area to avoid it becoming a very large triangle.
=> If we look at the recovery since August, we can see that this move has been impulsive and increases the odds for the break to the topside.
=> The only levels in play to track here are 20.92-21.03 which are the June highs. We see potential for this to extend as high as 21.4x and therefore any pullback towards 20.0x should be viewed as corrective.
=> For bears, they need to break 19.833 to question that we have already put in the highs of the year and decade.
=> In our books, there is opportunity in adding exposure on the upside towards 21.0x and eventually 21.4x.
=> Stops can be held tightly below 19.80x as a break below here will reshuffle the cards.
=> Best of luck to those already in live or looking to build positions here.
=> To put it simply we are tracking two scenarios... the market is currently trading against strong resistance and we need to get above this area to avoid it becoming a very large triangle.
=> If we look at the recovery since August, we can see that this move has been impulsive and increases the odds for the break to the topside.
=> The only levels in play to track here are 20.92-21.03 which are the June highs. We see potential for this to extend as high as 21.4x and therefore any pullback towards 20.0x should be viewed as corrective.
=> For bears, they need to break 19.833 to question that we have already put in the highs of the year and decade.
=> In our books, there is opportunity in adding exposure on the upside towards 21.0x and eventually 21.4x.
=> Stops can be held tightly below 19.80x as a break below here will reshuffle the cards.
=> Best of luck to those already in live or looking to build positions here.
