$CP now at 0.006629, having fallen from 0.011800 with barely any meaningful resistance along the way. I stared at the chart for a while, and the more I looked, the more frustrated I got—every time it tried to lift its head, the rebound fell short of the previous one. The highs kept stepping lower, one after another. That’s a classic downtrend, so don’t rush to call a reversal.
The moving averages make it even clearer: MA5 is 0.006803, MA10 is 0.007030, and MA20 is 0.007631, with the price sitting below all of them. As long as the close doesn’t get back above 0.006803, this structure remains intact. The more important level below is 0.006315. If the daily candle closes below it, the downside will be wide open.
It’s not all bad news. This leg down has been a little sharp, stretching the price quite far, so a short-term bounce is entirely possible. But a bounce is just a bounce—don’t mistake it for a turning point. If you do trade it, keep your position small so a wrong call won’t do too much damage.
#USPPIBelowForecasts
The moving averages make it even clearer: MA5 is 0.006803, MA10 is 0.007030, and MA20 is 0.007631, with the price sitting below all of them. As long as the close doesn’t get back above 0.006803, this structure remains intact. The more important level below is 0.006315. If the daily candle closes below it, the downside will be wide open.
It’s not all bad news. This leg down has been a little sharp, stretching the price quite far, so a short-term bounce is entirely possible. But a bounce is just a bounce—don’t mistake it for a turning point. If you do trade it, keep your position small so a wrong call won’t do too much damage.
#USPPIBelowForecasts