Looks like spring is over
Hey fellas,
I don't want to be pessimist, but looks like bullish momentum, at least for today upon the hourly chart, is over. Resistance line placed at around 8.1k looks pretty strong and actually rejected the up-trending rally towards 8.5k. Provided that the 50-day MA has crossed bellow the 200-day MA, which is a clear bearish market signal, it seems that the daily 100-MA is going to confirm today's bearish reversal by crossing under the 200-MA as well.
I think we've got to a good peak at 8.1k, but the dream is over. Sadly over. I hope I'm too stoned folks!
I don't want to be pessimist, but looks like bullish momentum, at least for today upon the hourly chart, is over. Resistance line placed at around 8.1k looks pretty strong and actually rejected the up-trending rally towards 8.5k. Provided that the 50-day MA has crossed bellow the 200-day MA, which is a clear bearish market signal, it seems that the daily 100-MA is going to confirm today's bearish reversal by crossing under the 200-MA as well.
I think we've got to a good peak at 8.1k, but the dream is over. Sadly over. I hope I'm too stoned folks!
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