Technically, at the moment we have no clue if it´s going to break up or not. The higher low and the horizontal keylevel might indicate, that this is going to turn into a
triangle-shaped fractal, before going any direction, which means there is time left to range.
At the moment we have fallen back below the Daily Pivot, which can indicate a bearish tendency for the next hours and last of this week.
Where trendline, keylevel and SMA50 come together is going to be interesting as support.
I am holding my long, but trailed stops up to $7296 (target $7781) and set new limit orders on both key levels lower. I am not using big positions at the moment to keep my flexibility.
Have a nice evening guys.
Neru
triangle-shaped fractal, before going any direction, which means there is time left to range.
At the moment we have fallen back below the Daily Pivot, which can indicate a bearish tendency for the next hours and last of this week.
Where trendline, keylevel and SMA50 come together is going to be interesting as support.
I am holding my long, but trailed stops up to $7296 (target $7781) and set new limit orders on both key levels lower. I am not using big positions at the moment to keep my flexibility.
Have a nice evening guys.
Neru