So finally we had our bottom tested and cemented it seems. At least at a high probability. I timed a great spot for my long position at €225.51. As I'm writing my position is up 4.72%, and I feel very confident that we have cemented a solid support after couple of days of the Ol' Bear .
My personal guess is that we keep going upwards until we meet some resistance at about €240. But I would actually go so far that I think we will pass that and hit our heads at around €265-€270 and have a slight correction down to €240, which in turn will be the new solid support.
Any thoughts?
My personal guess is that we keep going upwards until we meet some resistance at about €240. But I would actually go so far that I think we will pass that and hit our heads at around €265-€270 and have a slight correction down to €240, which in turn will be the new solid support.
Any thoughts?
Comment:
We are now testing the new support @ €240 as I previously mentioned. If it can hold for a "double dip" then I will make sure to place a long position and set a limit sell at €260.