Things to note:
- 21 SMA still curled down looking for bearish cross below 50 over next few days/early next week
- Gapped down @ open & below BF channel
- now has overhead resistance of 100SMA, BF channel & 50
- Price struggling to get back above 9SMA
- Bear target #1 Gap @ $286.69
- Bear target #2 Gap @ $275
- Bear target #3 re-test June low
All targets are assuming that we are headed down, which of course is an assumption.
Always manage risk, always DYOR.
Refer to my thoughts on todays CPI & how the FED could react for better understanding of how further downside could be possible.
- 21 SMA still curled down looking for bearish cross below 50 over next few days/early next week
- Gapped down @ open & below BF channel
- now has overhead resistance of 100SMA, BF channel & 50
- Price struggling to get back above 9SMA
- Bear target #1 Gap @ $286.69
- Bear target #2 Gap @ $275
- Bear target #3 re-test June low
All targets are assuming that we are headed down, which of course is an assumption.
Always manage risk, always DYOR.
Refer to my thoughts on todays CPI & how the FED could react for better understanding of how further downside could be possible.