Here we are a few days later, still fighting over 27 cents.
-Initially, bulls were in control but just couldn't break past 29 cents.
-Which ignited another battle and brought bears a short lived victory.
-Pushing past the 23 cent level sparked the bulls to come rushing in, bringing us back to fighting over 27.
In a lower time frame, it would look like bears are attempting to bring is down to retest the lower red trend line. Which would also happen to be the 25 cent level of support now.
Zoomed out for a daily view brings a slightly different story.
The combat area has narrowed
-from 23-29 cents,
-to 26-28 cents.
and the closing battles are now hovering above the 27 cent level which, to me, is favorable to the bulls BUT
the closing candle may change the outcome as today are the bears time to shine.
Green daily candles are usually met with an ~equally red candle, and today there looks to be more red than there was green yesterday. So,
Let's see what happens next.
Please check out part 1 linked below if you haven't yet!
-Initially, bulls were in control but just couldn't break past 29 cents.
-Which ignited another battle and brought bears a short lived victory.
-Pushing past the 23 cent level sparked the bulls to come rushing in, bringing us back to fighting over 27.
In a lower time frame, it would look like bears are attempting to bring is down to retest the lower red trend line. Which would also happen to be the 25 cent level of support now.
Zoomed out for a daily view brings a slightly different story.
The combat area has narrowed
-from 23-29 cents,
-to 26-28 cents.
and the closing battles are now hovering above the 27 cent level which, to me, is favorable to the bulls BUT
the closing candle may change the outcome as today are the bears time to shine.
Green daily candles are usually met with an ~equally red candle, and today there looks to be more red than there was green yesterday. So,
Let's see what happens next.
Please check out part 1 linked below if you haven't yet!
