Not out of the woods just yet...

20 thg 1, 2022

We have a nice green candle in the works right now, as expected after consolidating for so long at a key support area. BUT -- we still have the daily 21 SMA to contend with. You can see from the yellow arrows how common it is for price to experience a major rejection from this MA, especially on the first or second test of it. IF (and it's still a big if) we close this daily candle above it, then it's very likely the rally will continue to at least the 46-48K area.