-Yurlo (Please give this TA a thumbs up for the visuals created here)
Recent weekends CME just closed at (10620), while the breakout CME at (9600) hasn't been tapped since we broke above (10000) well over a month ago.
I'm placing my bets on $9600 to be tapped before $10620.
Why:
#1: Bears aren't close to reaching an exhaustion phase (every time bulls try to spook bears it gets pushed back down to prior levels)
#2: We've been seeing lower highs & every pump is being sold. (bearish)
Lose $9950 & $9600 will happen quite fast, hold $10000 & the s/r will flip.
Recent weekends CME just closed at (10620), while the breakout CME at (9600) hasn't been tapped since we broke above (10000) well over a month ago.
I'm placing my bets on $9600 to be tapped before $10620.
Why:
#1: Bears aren't close to reaching an exhaustion phase (every time bulls try to spook bears it gets pushed back down to prior levels)
#2: We've been seeing lower highs & every pump is being sold. (bearish)
Lose $9950 & $9600 will happen quite fast, hold $10000 & the s/r will flip.