Major Test Area
After what seemed like forever, we finally checked out of 900 last night on a bit of increased volume. Fortunately for the shorts, we caught some resistance at the 200/100 60M EMA and didn't quite see a push to the green zone (hopefully that wasn't you getting buffed at 920).
From there we accelerated to S1 and entered a key test zone with the 880-860 and 850-830 levels. Now that we've pushed past 880, expect an 860 print in the short term. Volume has picked up but it's still looking light historically. Again, this appears to be a big level. Be prepared for price action and heavy volumes to carry us through. Expect significant increased downside volatility as well if both tests are successful and we close in on the 700 handle.
If you're short around 960, keep an eye out here. You may want to take profits if we see rapid rejection of these levels on volume. Better to reassess with a winner bagged than with LFT (loss from top) racking up.
Hope you're enjoying the #MarketParty ya'll. What's your science saying?
From there we accelerated to S1 and entered a key test zone with the 880-860 and 850-830 levels. Now that we've pushed past 880, expect an 860 print in the short term. Volume has picked up but it's still looking light historically. Again, this appears to be a big level. Be prepared for price action and heavy volumes to carry us through. Expect significant increased downside volatility as well if both tests are successful and we close in on the 700 handle.
If you're short around 960, keep an eye out here. You may want to take profits if we see rapid rejection of these levels on volume. Better to reassess with a winner bagged than with LFT (loss from top) racking up.
Hope you're enjoying the #MarketParty ya'll. What's your science saying?
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