Another analysis, if history repeats itself.
50MA becomes resistance
Price starts to hunt for the 200MA, Once MA crosses that 50.
Then if breaks 200, It may come down to 60.
It's scary to take it long from here. Don't try to catch a falling knife.
Confirm first for a good entry on the D/W/ indicators, for any reversal signals.
Possible Next levels. 98 -> 88 -> 80 range (200MA) -> 60 range.
Thanks.
50MA becomes resistance
Price starts to hunt for the 200MA, Once MA crosses that 50.
Then if breaks 200, It may come down to 60.
It's scary to take it long from here. Don't try to catch a falling knife.
Confirm first for a good entry on the D/W/ indicators, for any reversal signals.
Possible Next levels. 98 -> 88 -> 80 range (200MA) -> 60 range.
Thanks.
Comment:
Still tipping toes will that 98 rug. Careful.
Not a good time to enter long here bulls. again see the TA and it will most likely hunt for the 200MA.