MAY on the Daily: Going to keep this one very simple - Point of...

MAY on the Daily:
Going to keep this one very simple - Point of control lines up with the 200D SMA (0.071). This is the level to be watching IMO. We are now below the EMA ribbons and they are acting as resistance. I would like to see some consolidation at this level to confirm the 200D SMA as support. Fib retracement spot 0.786 is at 0.65. IMO we are now range bound (1.15-0.071). If we lose 0.071 look for 0.065.

Moreover, the macro environment is now driving most markets. While the fed continues its hawkish approach investors are primarily in cash (just look at the DXY chart).

ATM this is a risk on asset and if the POC does not hold we could see some more red days/weeks ahead for MAY. There is going to be some fantastic buying opportunities if this happens.

Again, a positive ANN and all this TA/PA is out the window. IMO this is a no brainer to continually DCA at these prices with what is to come for MAY.

A quick look at the Weekly:

VRVP confirms POC down at 0.02, with a liquidity gap from 0.065 - 0.025. We want to see the this current region hold as support. RSI neutral, Stoch over sold. 200W SMA at 0.035. IMO we range and have then a relief rally.


Let's go MAY!