Morning Update: Can we make it to the Danger Zone
This is not a nod to the 1980's TOP GUN movie.
This morning as it write my update we are getting that selling reprieve I discussed yesterday. My sense is this could last a couple days...but it's early. There's strong resistance at $103.60. If we can make it over that we have to contend with the $106-$107 area...then we have $111.
Based on how price has acted this week it would not surprise me if we got to the danger zone...but it's highly unlikely we're going above $111 just yet. Today should be a day with upward pressure to consolidation. See you all tonight.
Best to all,
Chris
This morning as it write my update we are getting that selling reprieve I discussed yesterday. My sense is this could last a couple days...but it's early. There's strong resistance at $103.60. If we can make it over that we have to contend with the $106-$107 area...then we have $111.
Based on how price has acted this week it would not surprise me if we got to the danger zone...but it's highly unlikely we're going above $111 just yet. Today should be a day with upward pressure to consolidation. See you all tonight.
Best to all,
Chris
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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.