Obviously if we close this week in this shape, ppl will expect a dive next week.
Let's assume no dive for now.
If we bounce here and close above 185, this will form a weekly bullish engulfing. This would be very bullish. However, I think the probability is not high given it is still waiting for 10ma to catch up. So, 180-185 is most likely for this week assume no big dive. Of course, one can tailor their strategy by looking at best R/R.
What if there is a dive.
I think UUP long is in a better position for near term play. But imo this scenario is less than 1/3 given a flat and upward MAs and TLT intraday reverse.
Let's assume no dive for now.
If we bounce here and close above 185, this will form a weekly bullish engulfing. This would be very bullish. However, I think the probability is not high given it is still waiting for 10ma to catch up. So, 180-185 is most likely for this week assume no big dive. Of course, one can tailor their strategy by looking at best R/R.
What if there is a dive.
I think UUP long is in a better position for near term play. But imo this scenario is less than 1/3 given a flat and upward MAs and TLT intraday reverse.