🖼 Daily Technical Picture 📈
➤ Bears tried to push back the charging Bull and ended without success. Price bounced off the support line strongly. Clearly there are buyers at these levels. VIX contracted further. Is the panic over?
➤ I'm of the opinion that we may see the price rise a little more followed by a down move as a secondary test of the yearly low before another leg up. It is unclear to me if the down move will make a new low or a higher low. We may end up with something that looks like the price action in mid-Jun. A temporary sideways market.
➤ My current exposure is 0%. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: Waiting on the sidelines, looking to trade a potential sideways market.
➤ Bears tried to push back the charging Bull and ended without success. Price bounced off the support line strongly. Clearly there are buyers at these levels. VIX contracted further. Is the panic over?
➤ I'm of the opinion that we may see the price rise a little more followed by a down move as a secondary test of the yearly low before another leg up. It is unclear to me if the down move will make a new low or a higher low. We may end up with something that looks like the price action in mid-Jun. A temporary sideways market.
➤ My current exposure is 0%. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: Waiting on the sidelines, looking to trade a potential sideways market.
🏆 eToro Popular Investor 💰
✅ Copy My Trades @ eToro, www.etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
✅ Copy My Trades @ eToro, www.etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice