Looking at $PROM right now and it just feels heavy to me.
Clear rejection from the 2.15–2.17 area and price is now hovering around 1.99.
Not seeing much strength on the upside. Every bounce is getting sold into pretty quickly.
If it closes below 1.90 with volume, my personal feel is we can easily slide toward 1.55 first, and then possibly 1.40–1.30.
I’m not feeling confident on the long side at the moment.
Just my opinion.
$PROM
Clear rejection from the 2.15–2.17 area and price is now hovering around 1.99.
Not seeing much strength on the upside. Every bounce is getting sold into pretty quickly.
If it closes below 1.90 with volume, my personal feel is we can easily slide toward 1.55 first, and then possibly 1.40–1.30.
I’m not feeling confident on the long side at the moment.
Just my opinion.
$PROM