Price is approaching a very crucial zone. The 415-420 zone. If price comes down and holds we can look to see price potentially test 460, then 500 again. If you are long or are looking to get long keep that 500 level in mind. The last time price ran up that high it quickly rejected that level. Although we are in a much stronger and sustainable up trend. Conversely, if price breaks and closes below 415, I would look for price to test 400, then head back up to the 415 and finally retrace back down to the 360-370's. We'll see what happens in the coming days. Good luck trading out there.
Comment:
Price came down into our zone and is rejecting the level really well. We have Tweezers on the 240 min chart. This would be a good opportunity to get long. Good luck trading out there.