This is the first major shift in character we have seen since this run up started around 11 a.m. It is a negative 1 min divergence. The current position of the last 3C reading is also negative and lower. One of the tricks they use to snowball a decline is a false breakout. Clearly a resistance area has been formed around the $110.80 area. A failure of a breakout above that is one of the tricks Wall Street uses to create downside momentum. Watch for volume at support levels and obvious areas such as the triangle breakout areas and whole numbers.
No comments:
Post a Comment