loki_2099
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loki_2099
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Why a sharp correction is overdue after the rally
?Hi everyone! ✌️ Let’s face it: the 4-hour SOXSB chart looks extremely overbought. We’ve seen an aggressive, uninterrupted climb from $28.50 to a local high of $49.68. I’m expecting a real correction soon, and here are 3 reasons why:
Technical exhaustion and a psychological barrier: Vertical surges of this magnitude rarely continue without a period of consolidation. The price has come right up against strong round-number resistance at $50.00, which has historically been difficult to break on the first try.
Why a sharp correction is overdue after the rally ?
Hi everyone! ✌️ Let’s face it: the 4-hour SOXSB chart looks extremely overbought. We’ve seen an aggressive, uninterrupted climb from $28.50 to a local high of $49.68. I’m expecting a real correction soon, and here are 3 reasons why:
Technical exhaustion and a psychological barrier: Vertical surges of this magnitude rarely continue without a period of consolidation. The price has come right up against strong round-number resistance at $50.00, which has historically been difficult to break on the first try.
Technical exhaustion and a psychological barrier: Vertical surges of this magnitude rarely continue without a period of consolidation. The price has come right up against strong round-number resistance at $50.00, which has historically been difficult to break on the first try.
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