So we are AT the 200DMA, and under it. So if we continue this momentum down and it becomes resistance than the next support is at 400.
Ok with that out of the way, today’s trading range is between 409 and 431 based on Fridays contract. That is UNDER the weekly trading range with that low of 418
We still have some upward momentum on the 200DMA which makes me think we stay flat-ish (as flat as you can with volatility so high)
You typically don’t want to go short at an upward facing moving average.
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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.