Im taking a look at the 1 hour chart this morning and I see that we are in consolidation mode (moving sideways). We have found some resistance at the .618 fib on this chart. Its pretty strong resistance as the 200 MA on the daily is also in this region therefore its gonna take a good push to get us past this point. Bad news is I see a possible double top
on this chart which could end with bearish
results. So what is below the candles that can provide possible support in the case we do fall a bit today? That 50 MA is the first possible area of support around 8350. Underneath that we have the .786 fib that provided resistance very recently so look at this area to provide some possible support as well (8265). There is also the 200 MA (blue line) that is merging with the top of the cloud at around 8175. We have a lot of support under us and that is a good thing. But that 200 MA on the daily is the obstacle we need to overcome to continue rising in my opinion. You can see that there was a golden cross on this chart (orange line crosses above the blue line) and the price jumped afterwards. Just thought I would point that out. The cloud will provide a higher support at around 8400 in around 6 hours or so. Daily volume
is sitting at $20,952,695,078 which is higher than it has been in a good while. Its nice to see the green candles again. People tend to get down about the dips and are happier when the candles are green. If we want to see more of those green candles we got to conquer the 200 MA on the daily. But WTFDIK?