sits just below, and it does look as if it is trying to be a bit of support. At this point, the market is likely to continue to see back-and-forth action, trying to figure out where we are going next. Ultimately, this is a market that looks to be a bit confused, as we have to worry about whether or not there’s going to be enough demand, and of course supply issues have been a major problem as well.
Breaking down below the 200 Day EMA opens up the possibility of a move down to the $90 level, which was a major support level previously. If we can break down below the $90 level, then it opens up a trapdoor of negativity. Because of this, the market is likely to continue to see that area as important, so I think a lot of clients and CTA accounts would have to close out if we break through that region.with a sideways tilt, you’re probably better off leaving it alone.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: YahooNews - 🏆 380. / 59 Read more »