Can someone tell me where US30 5min will go and why?
The correct answer is down and the why is for the following reasons:
1. First time high volume down waves at resistance
2. Retracing to resistance level at non significant volume waves
3. First time such a High Speed Index of 20.6 when approaching resistance - this means that sellers were active too.
4. Another High Speed Index of 14.5 at resistance level
And down we go.