Beware of the weak longs and late adopters in this little move. The next break higher looks like it does not have enough pre-move build-up to be sustained.
Moves like this can often take out the ‘buy on break’ traders, namely the ones annoyed they missed the last move (and we’ve all been part of that group). Think, who is left to buy after these guys?
That’s no comment on the longer-term hold, but these short-term charts show a risk of a nice pullback. Just a buyer beware note.
Moves like this can often take out the ‘buy on break’ traders, namely the ones annoyed they missed the last move (and we’ve all been part of that group). Think, who is left to buy after these guys?
That’s no comment on the longer-term hold, but these short-term charts show a risk of a nice pullback. Just a buyer beware note.