Although we got a close below my 35.5k level, we saw a mini re-test of that 34.7 area and now a subsequent breakout of the volume value area (highlighted in the purple box, indicating the higher volume being traded within that area), plus we also moved beyond that diagonal holding as resistance previously.
We're now sitting right on this 200ma, which we haven't traded above for over a month.. pretty significant.
If we can see a daily close and hold above this 41k zone, I've highlighted on the right the next volume nodes, which also line up perfectly with our fibs and upper supply.
Will the move up to vertical, I doubt it. We'll likely see some chop between our fib levels as we make our way up. If we can't hold this level on daily close, I'll see what we look like back down at that 38k mark and re-assess as needed.
If we continue up, I would be very cautious about how you play around that 47k mark, could see some damage being done to` late longs at that area
We're now sitting right on this 200ma, which we haven't traded above for over a month.. pretty significant.
If we can see a daily close and hold above this 41k zone, I've highlighted on the right the next volume nodes, which also line up perfectly with our fibs and upper supply.
Will the move up to vertical, I doubt it. We'll likely see some chop between our fib levels as we make our way up. If we can't hold this level on daily close, I'll see what we look like back down at that 38k mark and re-assess as needed.
If we continue up, I would be very cautious about how you play around that 47k mark, could see some damage being done to` late longs at that area