Long
Key Daily Support Now Being Tested
After forming such a recovery and strong trend higher in recent times, price has now cooled off and sold away from the extreme highs.
Price has now moved back to be testing what looks to be a crucial support level for this market.
In recent times we have seen price attempt to make a new high, but in the process form a lower high and now sell off lower.
If this support gives way it would signal a short term trend lower and the support level could turn to a price flip resistance.
Keep in mind; there are some large events happening in the US this week that will have the ability to shake the markets without a moments notice.
Price has now moved back to be testing what looks to be a crucial support level for this market.
In recent times we have seen price attempt to make a new high, but in the process form a lower high and now sell off lower.
If this support gives way it would signal a short term trend lower and the support level could turn to a price flip resistance.
Keep in mind; there are some large events happening in the US this week that will have the ability to shake the markets without a moments notice.
Related publications
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.
Related publications
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.