15m chart below and we broke above $130 at market open but we wiped all the gains and ended right at this key psychological level and 50 SMA in anticipation for Powell tomorrow and CPI Thursday. If we hold $130, I’m expecting a violent move up. Otherwise, since we have reclaimed this $130 level and closed at the lows, I’m expecting more downside kicked off by buyers who bought above $130 forced out of positions.
Money really does grow on trees.