Sorry for lack of posts last week but hope everyone had a Happy Thanksgiving!
So previously we watched the collapse and break down below our initial support zone. From there we were waiting for two things. Bulls to get Above the EMAs and then to begin the stair step pattern up. We were also watching our zone which previously served as support to now become resistance.
We finally got the break above the EMAs and battled into the resistance zone and even poked out the top for a couple hours before the bears reloaded and sent price right back through the bottom of the zone.
We are now back below the EMAs and under our zone. So this battle just continues on. Bulls are looking to hold these supports of $6526 the ultimate low of this pull back and then have $6850 and $7157 trying to serve as support for some higher lows. Resistance overhead is our entire zone and ultimately $7870 which was the peak of the brief rally from the bulls.
Just My 2 Sats!
So previously we watched the collapse and break down below our initial support zone. From there we were waiting for two things. Bulls to get Above the EMAs and then to begin the stair step pattern up. We were also watching our zone which previously served as support to now become resistance.
We finally got the break above the EMAs and battled into the resistance zone and even poked out the top for a couple hours before the bears reloaded and sent price right back through the bottom of the zone.
We are now back below the EMAs and under our zone. So this battle just continues on. Bulls are looking to hold these supports of $6526 the ultimate low of this pull back and then have $6850 and $7157 trying to serve as support for some higher lows. Resistance overhead is our entire zone and ultimately $7870 which was the peak of the brief rally from the bulls.
Just My 2 Sats!
