Gap Needs to Be Filled Moving from ATH's
Would be interested in your opinions/comments, thank you for the view. Based on the gap on the 9th of November, the price still has varying liquidity pockets that still need to be hit in order to move upwards (as shown by the rectangles)... There is a fair probability (50%-55%) that price will move downwards. Based on sentiment, it appears that DJ may be setting up for a move downwards. On the 45m, and 1hr time frames price has wicked touching the upper bound of the Bollinger band. This may signal a move downwards. Considering the price is close to the all-time high (ATH) a move downwards may be likey.
An article attached shows that though the recovery has been excellent, numerous headwinds remain for the US economy (Goldman Sachs).
The bullish news on Friday may be washed out by the increased COVID-19 in North America and could be influenced by the decline in Hog Futures showing that consumer spending is starting to decline...
thedeepdive.ca/goldman-sachs-projects-strong-us-economy-in-2021-but-notes-significant-obstacles-ahead/
GC is committed to trading education and laying out high probability set-ups.
This is an opinion, not financial advice.
An article attached shows that though the recovery has been excellent, numerous headwinds remain for the US economy (Goldman Sachs).
The bullish news on Friday may be washed out by the increased COVID-19 in North America and could be influenced by the decline in Hog Futures showing that consumer spending is starting to decline...
thedeepdive.ca/goldman-sachs-projects-strong-us-economy-in-2021-but-notes-significant-obstacles-ahead/
GC is committed to trading education and laying out high probability set-ups.
This is an opinion, not financial advice.
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