I'm not bearish but rather quite bullish. However, in the meantime, I believe that buyers will become more nervous as recent gains may bring profit takers to the table.
The RSI is definitely in a over extended area. Viewing the B-Bands we can see that we breached above the upper band, and with my experience usually results in retrace to the middle band as support, at the least. From an EMA point of view the 10 verse the 40 shows that selling pressure could be at the starting line.
In short, I could see a retest at the middle B-Band level $682.84 and/or at the current VWAP level $643.33. These two levels are close to each other and I think tell a soon to be short term retrace.
I am open to questions and criticism.
The RSI is definitely in a over extended area. Viewing the B-Bands we can see that we breached above the upper band, and with my experience usually results in retrace to the middle band as support, at the least. From an EMA point of view the 10 verse the 40 shows that selling pressure could be at the starting line.
In short, I could see a retest at the middle B-Band level $682.84 and/or at the current VWAP level $643.33. These two levels are close to each other and I think tell a soon to be short term retrace.
I am open to questions and criticism.