Haven't posted a TA post in a while as it's been fairly boring just hugging the 100D MA. With current fall I thought I'd do a quick post.
Daily
Looking for bearish with the next likely support at the 200D MA that corresponds to the year long trend.
Weekly
Not much else to say about the daily so I thought we'd zoom out a bit.
The chart show about the last 3 years. During which we have had a few long term trends, the steeps of which will only confirm break down this week if we close sunday below 12k.
The year long trendline I often mention on the daily charts can be seen as the next possible support, but it has not been test since July.
Another interesting thing I'd like to point out is the RSI has a long history of bouncing off 50 (the green line).
My plan
I had buys hit at the 100D MA with more placed around 9-9.5k, then bigger buys around 8k. On top of that I have been buying small each dip with I goal of accumulating for a possible 1-2 more months of down or sideways.
Thanks for reading.
KevinBacon
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