We've already tagged a major trend line and the uptrend since last April was on falling volume. If ~565 is taken and holds the market may see this as an opportunity to break into higher price points, if the level is rejected... maybe I should draw Mr. Newton under this tree...
What's interesting is that exactly where the long-term-support-turn-to-resistance line crossed the new resistance line, is where we had a strong sell off. Points like this one tend to have significant effect on both price and time. It will be fun to see if the sell off on this magic point was a prelude to a larger downtrend. Exciting times for fruits...
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Pink_Grasshopper
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...and off it rolls... it's already falling into support area with stronger support around 485.
Overall market is weakening. It's difficult to say what will follow as we're at a juncture where natural market forces begin to push down significantly yet sentiment is still bullish. Once again, man against nature...
tradingview.com/v/hG4IfJNm/
Overall market is weakening. It's difficult to say what will follow as we're at a juncture where natural market forces begin to push down significantly yet sentiment is still bullish. Once again, man against nature...
tradingview.com/v/hG4IfJNm/