Last night, institutional funds flowed into cryptocurrencies and gold as safe havens, driving prices higher from the open and creating a right-side trading opportunity.
But funds haven't been flowing into U.S. storage stocks, which have been very weak. SanDisk pulled back to around 1,000 and rebounded, but the rebound is still weak for now. We haven't seen large-scale dip buying, and there is no bottom on the 4-hour chart yet. The 1,000 level is an awkward one at the moment. Bulls need to defend 970; if it breaks, prices could test demand support around 888–858.
But funds haven't been flowing into U.S. storage stocks, which have been very weak. SanDisk pulled back to around 1,000 and rebounded, but the rebound is still weak for now. We haven't seen large-scale dip buying, and there is no bottom on the 4-hour chart yet. The 1,000 level is an awkward one at the moment. Bulls need to defend 970; if it breaks, prices could test demand support around 888–858.