Curved top resistance ceiling

8 mag 2021

I'd put much more likelihood that we face a curve produced top barrier in the case that we do follow any new conservative slope here for the next 2-3 days (vs the alternative of price-level fixed resistances from previous volumes). This would coincide with an Elliot rollover after this 3rd impulse from the 49k bounce. I'm guessing many people would be looking to call short-term ceilings across a variety of heuristics. Depending on how things settle I might look for a few curves tomorrow to create unique breakout levels to take the opposite side in the FOMO case of these shorts stopping out early.