Its times like now when its really just a smart idea to buy a 3x inverse etf to hedge your long positions. :p
But seriously, this doesn't look good to me. I'm not claiming that I'm going to be correct, I'm just noticing that based on previous patterns I've seen price action follow, this is what I think is most likely to happen. Combine that with the current political environment and we've just got a recipe for disaster.
But seriously, this doesn't look good to me. I'm not claiming that I'm going to be correct, I'm just noticing that based on previous patterns I've seen price action follow, this is what I think is most likely to happen. Combine that with the current political environment and we've just got a recipe for disaster.
Note
Looks like a bit of reality set in today. We're seeing pressure at the 50day MA. I have a feeling we see some serious resistance here and $230 is on deck.
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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.