Yes! I expect us to break the recent low. Two major gap downs on 6/10 is VERY bearish. If you have two large gaps like that, it means we have a lot of selling pressure, which we're not done selling off, however, it might not happen within the next month as we need to continue our upside move first as I stated in my past posts. I would be cautious on going short/puts since we have a bullish setup on the chart. We could easily go up and meet my daily resistance trend highlighted in yellow, reject, and then move higher with us eventually (possibly) hitting the uppermost key resistance trend that I've outlined in teal before moving back down. You may use me as an indicator, but overall I am long in the interim.. till next time! :-)
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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.