As you know TL are stronger on higher TF..
Based on my weekly chart, I have two blue TL intercept at the 150 zone which happen to be at 23.6% fib and 9/2000 low as support.
Technically, the RSX and MACD are trending downward long term...
The daily chart showed a breakout of the major TL and retracing up to the 148-150 zone before an projected drop to a new low..
IMHO..
If the 150 zone holds if the rally continues to that area, I will take a big position for a short position in the future..
Based on my weekly chart, I have two blue TL intercept at the 150 zone which happen to be at 23.6% fib and 9/2000 low as support.
Technically, the RSX and MACD are trending downward long term...
The daily chart showed a breakout of the major TL and retracing up to the 148-150 zone before an projected drop to a new low..
IMHO..
If the 150 zone holds if the rally continues to that area, I will take a big position for a short position in the future..
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