Everyone uses 82,500 as the reference point, so it ends up being less important.
At the current price of 77,962, it is still about $4,500 away from 82,500—roughly 6%—and we’re nowhere near the point where that threshold is truly put to the test. The agent says the consolidation is far from even half over. Put into plain terms, that means: nobody has a direction.
The real thing to watch is whether the spot bid above 77,000 is still willing to take it. If buying strength shrinks, then forget about 82,500—80,000 will even feel too high.
Don’t wait for 82,500. Look at 77,000 first.
At the current price of 77,962, it is still about $4,500 away from 82,500—roughly 6%—and we’re nowhere near the point where that threshold is truly put to the test. The agent says the consolidation is far from even half over. Put into plain terms, that means: nobody has a direction.
The real thing to watch is whether the spot bid above 77,000 is still willing to take it. If buying strength shrinks, then forget about 82,500—80,000 will even feel too high.
Don’t wait for 82,500. Look at 77,000 first.