Hello everyone good morning, from here beautiful burning California.
Okay this is going to be a quick breakdown why I'm still leaning Bearish and moved slightly toward Neutral.
Bearish Outlook:
1) We have not open and closed above 10500.
2) Although we have this small jump into the channel we needed volume behind the short pump. In other words, it may not hold.
3) Bearish Flag Still in play.
Bearish / Neutral Outlook:
1) Chance of not leaving accumulation zone due to volume.
2) I feel if we fall back into the accumulation zone, we'll fall back to the bottom of the zone, but NOT to complete the bear flag.
3) If we continue sideways (consolidation/Accumulation), then IMO the chances of dumping is less.
Bullish Outlook:
Opening and closing above the lower line of the ascending channel opens the bulls to rush to 11200 before possible small pullback. Although I am not giving this a bullish pump enough credit, the odds of it playing out, is 50/50, lowering my Bearish call yesterday to, Bearish Neutral. Being 50/50 to causes me to move toward Neutral.
SET YOUR STOP LOSSES AND TAKE PROFITS ACCORDENLY...
I am not an investment adviser, so please do your own homework
Okay this is going to be a quick breakdown why I'm still leaning Bearish and moved slightly toward Neutral.
Bearish Outlook:
1) We have not open and closed above 10500.
2) Although we have this small jump into the channel we needed volume behind the short pump. In other words, it may not hold.
3) Bearish Flag Still in play.
Bearish / Neutral Outlook:
1) Chance of not leaving accumulation zone due to volume.
2) I feel if we fall back into the accumulation zone, we'll fall back to the bottom of the zone, but NOT to complete the bear flag.
3) If we continue sideways (consolidation/Accumulation), then IMO the chances of dumping is less.
Bullish Outlook:
Opening and closing above the lower line of the ascending channel opens the bulls to rush to 11200 before possible small pullback. Although I am not giving this a bullish pump enough credit, the odds of it playing out, is 50/50, lowering my Bearish call yesterday to, Bearish Neutral. Being 50/50 to causes me to move toward Neutral.
SET YOUR STOP LOSSES AND TAKE PROFITS ACCORDENLY...
I am not an investment adviser, so please do your own homework