Well looks like we maybe doing the same exact thing we have done the last few weak bounces... I'm thinking we will follow that orange line I have drawn down too around 56-55ish.
Looks to me as we may get rejected at the downtrend wall yet again. One good though though looks like the bounces are stronger and stronger each time and things are starting to speed up a bit. Before we went sideways for close to a week but I believe we will see what happens either late tonight or tomorrow sometime. So the bounce we have this time should happen during the peak week instead of low volume weekends.
We could have that squeeze up tonight too but the way things are acting I just wouldn't think so... but hey anything could happen I guess!
Looks to me as we may get rejected at the downtrend wall yet again. One good though though looks like the bounces are stronger and stronger each time and things are starting to speed up a bit. Before we went sideways for close to a week but I believe we will see what happens either late tonight or tomorrow sometime. So the bounce we have this time should happen during the peak week instead of low volume weekends.
We could have that squeeze up tonight too but the way things are acting I just wouldn't think so... but hey anything could happen I guess!
Note
Looks like the bulls are just struggling to get it pushed up and the volume is really low... the Aroon 1 hour is close to a drop but the 4 hour is still bullish so I think we will drop but have a nice bounce afterwards... I could see it spiking to 6250ish then back down to 5650ish for a nice large bounce soon after! The current conditions looks a lot like it it did the other day where we struggled most of the day then back up... anyways may do anything but we will see!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.