I am not going to sit here and predict the massive retracement for US30, however I do believe that in the short-term we will see US30 drop and hit the 50EMA.
Price is at a new high and currently to me it looks like price is struggling, with the strength of the dollar I do not see it getting past this resistance.
We also have a spinning top candlestick on the daily candle which shows me that buyers are running out and the market can't decide what to do.
(Pay attention to how the top wick is longer than the bottom wick, this tells me that buyers tried to push the price up however bears one he fight)
We also have the Williams%R indicator showing over brought, which again indicates a sell.
I WON'T be entering as of yet, however I am very interested to see what happens next.
Let's see how the recent Daily candle closes!
Please feel free to give your opinions:)
Price is at a new high and currently to me it looks like price is struggling, with the strength of the dollar I do not see it getting past this resistance.
We also have a spinning top candlestick on the daily candle which shows me that buyers are running out and the market can't decide what to do.
(Pay attention to how the top wick is longer than the bottom wick, this tells me that buyers tried to push the price up however bears one he fight)
We also have the Williams%R indicator showing over brought, which again indicates a sell.
I WON'T be entering as of yet, however I am very interested to see what happens next.
Let's see how the recent Daily candle closes!
Please feel free to give your opinions:)