A lot of retail traders I know think this will crash below last January's low. Experience tells me that you should not follow the sheeps. I personally dont think this correction will happen - on a broader picture, we are still bullish for swing trades/investment.
I might even view this as a potential last chance to get in before the next major leg up. Important note, we just broke through a major resistance and is now testing it as a support - rebuilding the base if you would like. We may also be forming an inverted head and shoulder pattern..just pending on some volume on the right shoulder. Will it break the neckline? We will see
I do not recommend making any trades now. Best to sit and observe until we get clear confirmation of a break out.
I might even view this as a potential last chance to get in before the next major leg up. Important note, we just broke through a major resistance and is now testing it as a support - rebuilding the base if you would like. We may also be forming an inverted head and shoulder pattern..just pending on some volume on the right shoulder. Will it break the neckline? We will see
I do not recommend making any trades now. Best to sit and observe until we get clear confirmation of a break out.