area of sell sensitivity (supply)
Price has been trading between 85.481 and 91.304 identified on the MN chart. Monthly supply CP @ 92.299 is in control.
On the weekly chart supply peak of proximal price @ 91.741 is in control , and price created a fresh supply peak @ 90.319 which price is reacting to but trading above it but has not violated its distal price making it still valid. I have short positions in the supply zone with stops @ 91.593 and targets at yearly low @ 85.440.
I am also looking for price to break bullish trendline , indicating shift in momentum that's when i can b looking to add more positions for the ride down.
“We trendsetters, not trend sweaters.” – Takeoff
On the weekly chart supply peak of proximal price @ 91.741 is in control , and price created a fresh supply peak @ 90.319 which price is reacting to but trading above it but has not violated its distal price making it still valid. I have short positions in the supply zone with stops @ 91.593 and targets at yearly low @ 85.440.
I am also looking for price to break bullish trendline , indicating shift in momentum that's when i can b looking to add more positions for the ride down.
“We trendsetters, not trend sweaters.” – Takeoff