Reasoning is as follows
These two reasons are clear enough for me that price will revert up. One thing to note, there is a strong VPOC node in the $42 - $43 area (not shown here) as well.
- Look what happens when daily price breaches lower bollinger band (highlighted in green circles) - price rips back up
- Price is just hovering on channel support
These two reasons are clear enough for me that price will revert up. One thing to note, there is a strong VPOC node in the $42 - $43 area (not shown here) as well.
Note
Grabbed 5xSEP14 50 calls at 0.15, will add more next week.Note
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.