Hello everyone,
Yesterday was a crazy day. We had moves of close to 700 pips. The price smashed through all the key areas and reached close enough to the monthly lows as analysed and expected. Where do we go from here now?
So price is not only near the monthly low but also centre trendline. I will wait to see how price reacts around this area as it is a key area. If 11828 is broken then I would expect price to push down further to next level of 11687-11525. However price can also go back to 12132 area before coming back down.
Over the last 6 months tech companies have not been doing very well and rising in interest rates have played a big part.
Yesterday was a crazy day. We had moves of close to 700 pips. The price smashed through all the key areas and reached close enough to the monthly lows as analysed and expected. Where do we go from here now?
So price is not only near the monthly low but also centre trendline. I will wait to see how price reacts around this area as it is a key area. If 11828 is broken then I would expect price to push down further to next level of 11687-11525. However price can also go back to 12132 area before coming back down.
Over the last 6 months tech companies have not been doing very well and rising in interest rates have played a big part.