In my comment yesterday, I speculated about the nature of the breakout, as it had been clear after a month of testing the all-time high (ATH) that an upward move was imminent. The breakout was strong, suggesting more gains and new ATHs in the future. The new ATH is now set at 2570, and the price is currently undergoing a normal correction.
While the old ATH provides support, I don't expect a retest today or early next week. Therefore, short positions aren't advisable. Instead, look for buying opportunities around the 2550 level, given the market's strong bullish momentum.
While the old ATH provides support, I don't expect a retest today or early next week. Therefore, short positions aren't advisable. Instead, look for buying opportunities around the 2550 level, given the market's strong bullish momentum.
Trade active
So far, dips have been bought.Selling is very risky now
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
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.