Market prices are getting squeezed. Only way out is down!
Updated
What you see here is price being trapped between several moving averages. There are buyers and sellers smashed into this mess like sardines. Buyers are putting their bids on one moving average, and sellers are stubbornly putting all their listings on another moving average. One side has got to give. Since sellers are sitting on profit, the path of least resistance is down.
Note
the move up this morning could be the same fake-out that resulted in market dumping OR it could be legit depending on how the market opens.
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