The Last Chance Saloon, 27th January 2023
🖼 Daily Technical Picture 📈
➤ It turns the Bulls were not very exhausted after yesterday's recovery. Equities burst higher but not before filling the opening gap. This is a good sign that move higher is supported.
➤ For the Bears out there, it is the last chance to hold out. Price is approaching a very significant technical level. Please refer to my interpretation on the monthly chart (see related Ideas)
➤ The important level is the 410-411 resistance zone. This has been the graveyard for many a Bullish move. The ability to close above it on a monthly basis would be very meaningful. This is also the last chance for the VIX to hold it's key level.
➤ I currently hold no position.
➤ Conclusion: Don't get in the way of a Bull's run until it has run its race.
➤ It turns the Bulls were not very exhausted after yesterday's recovery. Equities burst higher but not before filling the opening gap. This is a good sign that move higher is supported.
➤ For the Bears out there, it is the last chance to hold out. Price is approaching a very significant technical level. Please refer to my interpretation on the monthly chart (see related Ideas)
➤ The important level is the 410-411 resistance zone. This has been the graveyard for many a Bullish move. The ability to close above it on a monthly basis would be very meaningful. This is also the last chance for the VIX to hold it's key level.
➤ I currently hold no position.
➤ Conclusion: Don't get in the way of a Bull's run until it has run its race.
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Not Investment Advice
✅ Copy My Trades @ eToro, etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
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