Yesterday I called for a $10,200 retest, however I wasn't nearly confident enough to take a position. Today the volume looks good on the breakout and all signs are looking bullish for the next week/month. However, in regards to the next 24 hours I am expecting a healthy pullback to $9,750. This is indicated by multiple reversal dojis, as well as resistance from the 200 day SMA. That would also fill the gap and turn prior resistance into support.
As long as the price can support above $9,750 then we should be heading straight back to $11,000 in the next couple days. If the price does pull back below $10,000 then that could provide a good long entry. However, I am still considering this a no trade zone until we close above $10,400.
Happy Trading!
As long as the price can support above $9,750 then we should be heading straight back to $11,000 in the next couple days. If the price does pull back below $10,000 then that could provide a good long entry. However, I am still considering this a no trade zone until we close above $10,400.
Happy Trading!
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