In my last update we talked about losing 44.4k which was bearish as we were back in the 34-45k range.
We have dropped 10% since then, and 16% from our 47k resistance.
Now we are approaching key support in my opinion (37.5-38.5k area) :
Monthly level
Weekly level
Fib golden pocket
Range VAL
So we do have a lot of confluence in this area, and we are seeing a decent amount of shorts opening at the moment.
For now, we are bouncing off the daily at 39.3k, but I would like to see it break and test the 37.5-38.5k before we see a nice bounce (if we are to see one of course)
Any questions?
Good luck traders
Remember not to break your rules
Habib
We have dropped 10% since then, and 16% from our 47k resistance.
Now we are approaching key support in my opinion (37.5-38.5k area) :
Monthly level
Weekly level
Fib golden pocket
Range VAL
So we do have a lot of confluence in this area, and we are seeing a decent amount of shorts opening at the moment.
For now, we are bouncing off the daily at 39.3k, but I would like to see it break and test the 37.5-38.5k before we see a nice bounce (if we are to see one of course)
Any questions?
Good luck traders
Remember not to break your rules
Habib
