Great breakdown, Wassim — the confluence of the 61.8% Fib retracement, 50-day MA, and trendline support all converging in that $4,500–$4,600 zone makes it a compelling area to watch for a potential re-entry. With NFP on Friday and the Warsh nomination still in play, patience before committing seems like the right call here.
Appreciate it, Ken. You’re spot on about that $4,500 level- 4600$. It’s definitely a patience game right now if we don’t have appetite for risk in high volatility period.
I’ve entered (4902$) in the previous move up after the strong rejection price at 4660$ - more aggressive approach as per my risk tolerance and following a strict money management.
If price retest successfully the “Bull Test Zone” a second time which prices has just did 3 hours ago, it’s another safe chance.
Given your focus on trends with what I consider, one of the BEST substack channel “The Most Important News”, are you seeing this hesitation in other sectors you cover, or is it just commodities?
Great breakdown, Wassim — the confluence of the 61.8% Fib retracement, 50-day MA, and trendline support all converging in that $4,500–$4,600 zone makes it a compelling area to watch for a potential re-entry. With NFP on Friday and the Warsh nomination still in play, patience before committing seems like the right call here.
Appreciate it, Ken. You’re spot on about that $4,500 level- 4600$. It’s definitely a patience game right now if we don’t have appetite for risk in high volatility period.
I’ve entered (4902$) in the previous move up after the strong rejection price at 4660$ - more aggressive approach as per my risk tolerance and following a strict money management.
If price retest successfully the “Bull Test Zone” a second time which prices has just did 3 hours ago, it’s another safe chance.
Given your focus on trends with what I consider, one of the BEST substack channel “The Most Important News”, are you seeing this hesitation in other sectors you cover, or is it just commodities?