We have a couple reasons to be bullish at this time. The one hour chart is showing promise with some divergences and MacD Cross overs on a trendline.
Daily chart indicates a 9 buy which did start on weakness which means it may end on strength. I believe that last hours of the day are going to show ALOT of strength and bring price action back to about 6800. Of course this is the absolute BEST CASE scenario.
Also we might be establishing a sideways trading range before we take off.
I feel as though everyone thinks this is a suckers rally... Which to me is very telling.
The only thing the ETF rejection did was cause an exaggeration of a move that was already in play early in the day yesterday.
DEFINATELY BIG PLAYERS WORKING WITH NEWS OUTLETS to drive price.
Good Speed Gents,
Mr. Manbearpig
Daily chart indicates a 9 buy which did start on weakness which means it may end on strength. I believe that last hours of the day are going to show ALOT of strength and bring price action back to about 6800. Of course this is the absolute BEST CASE scenario.
Also we might be establishing a sideways trading range before we take off.
I feel as though everyone thinks this is a suckers rally... Which to me is very telling.
The only thing the ETF rejection did was cause an exaggeration of a move that was already in play early in the day yesterday.
DEFINATELY BIG PLAYERS WORKING WITH NEWS OUTLETS to drive price.
Good Speed Gents,
Mr. Manbearpig