Friday, February 05, 2021 9:53:50 PM
Exactly. The fact there is no FA behind the move elevates the volatility factor. Which in turn potentially increases the drop factor. One must be on their toes.
Based on my hourly chart, yes 13.76, 15 and 15.50 are in play for a bounce. Without some FA news it would be surprising IMO for price to exceed 15.50ish before another down move. The down angled 13ema (dark blue) will be a key if it becomes stronger downward resistance pressure. The 4/8/13 ema combo is negatively stacked which is another sign of weakness. Price is also below both Kchannel and bb midlines. Monday will be important if bulls are going to take a stand.
If price can rise above and confirm 15.50 support then 17 and 18 can come into play. Again, a tall order IMO if no new news.
All IMO only as I see the tea leaves.
PS: still have core shares so if don't get a chance to reload lower, no biggie.
PSS: agree with you that 11 is a key level.
Green Trades
Based on my hourly chart, yes 13.76, 15 and 15.50 are in play for a bounce. Without some FA news it would be surprising IMO for price to exceed 15.50ish before another down move. The down angled 13ema (dark blue) will be a key if it becomes stronger downward resistance pressure. The 4/8/13 ema combo is negatively stacked which is another sign of weakness. Price is also below both Kchannel and bb midlines. Monday will be important if bulls are going to take a stand.
If price can rise above and confirm 15.50 support then 17 and 18 can come into play. Again, a tall order IMO if no new news.
All IMO only as I see the tea leaves.
PS: still have core shares so if don't get a chance to reload lower, no biggie.
PSS: agree with you that 11 is a key level.
Green Trades
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