I'm still seeing lots of potential to the upside. We have wics leading us up back to 34.3K, and as far as the supporting areas for this buy, i see 33.7K and even possibly 33.6k.
From Feb 1st, We've seen price break past our Daily Resistance of 33.1K, but continue to fail to close above this price point. If you go look back and look at charts from December, you'll notice similar structure to what we have now. A lot of consolidation, which happened for 2 weeks. Then a spike up to break to the upside. Depending on how long this happens, Especially with Cpi releasing on Feb 14th it makes me even more confident in Bullish set up which could even potentially get us to reclaim the 35K High from December CPI. And this could come from recent change in new jobs, and jobless claims have started to do better so we have high chances of price to the upside. But from there Id turn to look for Bearish Markets, there's only a matter of time before we start to see price fall, especially with decisions of Raising interest rates and all.
This is just my personal opinion, Trade Safely!
From Feb 1st, We've seen price break past our Daily Resistance of 33.1K, but continue to fail to close above this price point. If you go look back and look at charts from December, you'll notice similar structure to what we have now. A lot of consolidation, which happened for 2 weeks. Then a spike up to break to the upside. Depending on how long this happens, Especially with Cpi releasing on Feb 14th it makes me even more confident in Bullish set up which could even potentially get us to reclaim the 35K High from December CPI. And this could come from recent change in new jobs, and jobless claims have started to do better so we have high chances of price to the upside. But from there Id turn to look for Bearish Markets, there's only a matter of time before we start to see price fall, especially with decisions of Raising interest rates and all.
This is just my personal opinion, Trade Safely!