Loading ...Was That It ?
This daily cycle low has been a very mild affair so far. We came close to hitting the $1650 target, but we’re currently trading back above the 10-day moving average (just). A sharp ‘plunge’ is still possible, but I sense upside pressure building…
In a monthly uptrend… very possible drawdowns are limited more often than not.. as long as you arent too stretched from longer term moving averages. Drawing out in time the correction.. and not necessarily in price.
I think that’s quite possible Patrick. Looking at it, I think it’s done enough to qualify as a daily cycle low. There is still time to drop further though…