Drop setup looks good. Let's plan support levels.

HoleyProfit

Aug 01, 2023

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Short stops tightened. Dump should be due now.

HoleyProfit

July 31, 2023

Short stops tightened. Dump should be due now.

See first: Market Forecasts and Trade Plans is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. The general move we’d look for in the 86 retracement is a strong move up that stalls out and goes into a range. Looking at the daily chart the momentum clearly died at this level.

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The head and shoulders looks promising with us now being able to break and sustain (At least for now) a retest of the neckline. The bears firmly have the edge here.

If the H&S fails, very different. Bear stops should be above would be right shoulder now.

Targets/Supports

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