broke out of the 4100 area that had been acting as a resistance for 5 times. The range of the move had this length because of cascading liquidations. Since the move was very strong I expect to turn at this point. If it manages to hold the Daily block that is marked on the chart it should be able to reach the 6k area again.
On the other hand if price has a weak reaction there and gets bellow the Block it will indicate a trap and we will look to enter shorts.
Published at Tue, 02 Apr 2019 10:23:21 +0000