Indecisive Market! Bulls and Bears are just taking turns!
- Super choppy market! Ups and downs are quite extreme!
- Quite impossible to call at current price action but adopt strangles until it goes out of range.
- Quite impossible to call at current price action but adopt strangles until it goes out of range.
What's clear
- MA5/MA20 retaken on Friday (395) ==> Still looks possible for a MA5 crossing above MA20 ==> One of my TREND indicator (NOT trade indicator) ==> MA5 cross above means bullish for me and influences my positions taken
- 390 to 392 has been a strong support range (bulls come in) ==> 392 is a key level as there are many crosses (supports and resistances) since Oct 2022
- MA5/MA20 retaken on Friday (395) ==> Still looks possible for a MA5 crossing above MA20 ==> One of my TREND indicator (NOT trade indicator) ==> MA5 cross above means bullish for me and influences my positions taken
- 390 to 392 has been a strong support range (bulls come in) ==> 392 is a key level as there are many crosses (supports and resistances) since Oct 2022
Potential moves
- Bullish ==> 395 gets supported (MA5/MA20) and price action breaks trend line and retake MA50 (about 400) ==> stays bullish in buy channels
- Bearish ==> Gets rejected by MA5/MA20 (395) again and breaks the key range 388/392 ==> Bound for 373
- Bullish ==> 395 gets supported (MA5/MA20) and price action breaks trend line and retake MA50 (about 400) ==> stays bullish in buy channels
- Bearish ==> Gets rejected by MA5/MA20 (395) again and breaks the key range 388/392 ==> Bound for 373
Again, the key range is 388 to 400 (where breaks out of either range limit signals the direction the market is taking)
Good luck, all!
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
icezzz : Market with strong support. do u go long , bullish for short term ?
Asphen OP icezzz : slightly bullish now but need to see MA5 cross MA20