/biz/ - Business & Finance

The only resistance point that matters is the weekly 20ma at approximately 10-10.1k. So expect turblence around that area and it seems we pretty much hit it and bounced off for now, so the question is how low are we going in the short term. I don't see this tiny pullback going below 9k, although i'll buy more if it does. Have faith

>>7664301

The only resistance worth even talking about is the median bollinger band on the weekly, also expressed as the weekly 20 period moving average. This is at around 10.1k and is where you'd want to sell if you're a weak handed bitch. Given how much momentum there has been coiled up during consolidation at 8k, I don't see this resistance actually doing much damage and we'll smash right through. Doubly so because the weekly 20 doesn't fall close enough to any of the fibs from peak/trough to really add resistance there.