Will we see a major selloff at this level? My prediction is, yes we will based on the price being overbought at the moment and the fact that it would correlate in frequency with smart money taking some profits before the next accumulation starts from a lower price point.
Any thoughts / counter ideas to this out there?
Giao dịch được đóng thủ công
⋅
The price moved up towards resistance level 58.81 before dropping down to fib retracement level 0.618 @ 57.17 dollars after news about John Bolton resigning from his position hit the market.
Note: Manually controlled this for the duration of the trade. Price is now up to support level of 57.75 dollars and I'm now expecting price to break the resistance level of 58.13 in the near future and find new support there.