We've got a short time frame double top, so if we don't bounce soon then it's certainly looking like we might finally get a decent pull back, hopefully we'll get to 0.33 or so.
This could also just be the first bounce of an ascending wedge to squeeze the bears into a breakout higher.The strongest immediate support will be the e21 on the hourly. A close below this will signal the bears for some profit taking and a more decent breather.The 0.33 fib zone should be a great trade for anyone who is inclined that way or looking for a fairly de-risked second entry point. Not saying it's the bottom, (don't try to pick the bottoms.) however it's a fairly strong fib combined with the hourly e55. Keep in mind it's a support zone so it may bounce before it gets there.Enjoy your weekend folks and I'll catch you Sunday evening or Monday morning.![]()
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We've got a short time frame double top, so if we don't bounce...
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