Professionals, retail traders and even those that are completely strangers in the space, please be warned of a monthly trendline that is happening right now. I have to admit personally that I have been longing and shorting so much to the point that I get confused sometimes, however when we reached this level, we got rejected today and that scratched my head only to find out on a GREATER image of things, we are at a monthly resistance to which we have been rejected 3 times before.
Now is it truly possible we are capable of breaking this monthly trendline? Absolutely! However, since again, we are in a major bear trendline ever since 2021, I do not think we will break this trend quite easily and would need major positive catalysts to do so. Please remember to always manage your risk and look at the big perspective so that you will have the edge. I know how irresistible it is to put CALLS and BUY things, but truly this is not the best time to do so efficiently, maybe if we dump to August 2020 Support (for a retest) or May 2019 Support then yes.
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Goodluck to those who are future Warren Buffets!
Tip: Do not forget to bookmark this or save this as reference. This is a massive possible prediction, and if it breaks the monthly resistance trendline, then everyone is happy! No more bears, but until then I will wear the bear hat.
Comment
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Validated pattern caused by a hawkish Jack Powell announcement.
Trade active
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Puts are open since 13,343 -- will hold until we confirm a potential reversal from positive fundamentals and market structure.