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Seems to be a lot of blame (read fear) going on, on posters and...

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    Seems to be a lot of blame (read fear) going on, on posters and articles etc. While the articles have likely contributed (a poster in HC certainly didn't) it should be kept in perspective that we've technically been ready for a retrace for a while. It's probably been good that it was so sharp and savage, it's cooled things right off. And those steep MA's are still showing quite an incline. It will take much more than this to flatten then out, and so we will likely return to the bull trend.
    We just hit the 0.33 - I'm happy with the that and would like to see it stop here. If this is the bottom (I suspect this is now done, but it will need a few hours to confirm)I would expect to have made back a big chunk of ground back over the next few sessions. For those who were wanting to get in lower or top up, hopefully you pulled the trigger.

    I've got a fib from Nov lows to our highs, and we've hit the 38.2 retrace (overshot a tad but that's moot) at 0.340

    Weekly -
    Price has just touched the green w5. This has historically been an entry for me in a strong trend, and it's on a weekly which is great.

    Daily -
    We have the very strong e21 on the daily coming in to show support with the 0.33-0.34 fibs as well. Price loves to come back and touch the e21 and is generally a pretty solid entry point. Volume is higher than I'd like to see but with the fear cycle that's to be expected. It's still relatively small volume compared with what its took to go up so net buys are still par for the course.

    Hourly -
    Nothing exciting here

    5min -
    Blue e100 crossed under red e200 so that'll potential signal is unfortunately off.

    All in all this looks pretty good. Plenty of solid support under us and it looks like we have taken some of the fire out of the today's sell off. If this is the bottom we should be pushing back towards 50 in no time, especially with news on the way.
 
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