In continuation of my 5 SMA comments and the recent "squeeze" I think it worth noting
the differences between the recent retracement and that of 2020 to which many have
tried to compare it. Despite the fundamental differences, he is my quick technical
perspective:
Weekly chart Comparison:
Daily Chart comparison:
Still not an area I would not personally trading in (unless I was desperate for a shot at
an entry) but looking much healthier... Too soon IMHO to talk about breaking previous
highs, thought the right announcement could perhaps achieve that... Looks like a much
better chance it has found its low for the meantime, though I think further general
consolidation is still more likely than a full-blown run-up to recent highs.
Will be happy to be wrong on that one.
Trade safe and GLTA.
Chart, page-16739
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