Friday Quadwitching Selldown with MA20 rejection?
- Exciting price action on Thursday! Big bullish run! Reclaimed MA5 support and then barrel through MA200!
- 2 resistances on Friday - MA20 (396/397) and MA50 (399); Could both stop the rally on the quadwitching Friday?
- Bollinger bands are starting to contract again (early days still) ==> shared before what happens when BB contract.
Key notes for me next days
- MA5 (yellow) is starting to base and could move upwards next days/weeks
- MA20 (green) coming down
- There is a possibility MA5 might cross MA20 in the near future (could it be FOMC on 22 Mar?) ==> Important note that if FOMC turns out bad, it could easily go bearish. As long as there is no real cross of MAs, it is only a possibility)
- I would look out for further consolidation price action (good support around 385-393) as support base
- Will remain cautious until MA5/MA20 are close to one another (otherwise, could well be a relief rally or bull trap)
Good luck, all!
@TigerStars @CaptainTiger @Deposit @LMSunshine @melson
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Ok
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