If it were not for the weak close on the weekly chart, I might be a buyer here. But I kinda think market may still make a more concerted effort to force longs out by dropping below channel and down to the 61.8% retracement (which is also the weekly 50-PMA). If we fall to this area and close next week on strength, that would be good short term buying opportunity, IMO.
Order cancelled
Traded opposite way I expected. But, I am glad to see lower channel hold. Should be interesting to see if it breaks upper channel.
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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.