Confluence:
- Possible rejection from rising channel
- 0.786 fib level going to test golden 0.618 fib level
- extended from 50D SMA
Contributing factors:
- 68 RSI
- Extreme greed in stock markets
- Recession still to play out
Short opportunity with 4% downside.
Depending on FED speech, Core PCE numbers, and major stock earnings, we could be headed to test 50% fib level $4150 for 9% short opportunity.
- Possible rejection from rising channel
- 0.786 fib level going to test golden 0.618 fib level
- extended from 50D SMA
Contributing factors:
- 68 RSI
- Extreme greed in stock markets
- Recession still to play out
Short opportunity with 4% downside.
Depending on FED speech, Core PCE numbers, and major stock earnings, we could be headed to test 50% fib level $4150 for 9% short opportunity.
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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.
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.