View: TF_hourly_May042015.jpg

TF_hourly_May042015.jpg

/tf hourly update. 

Price bounced off prior key support right to new resistance, then sold off. 

However, the hourly did break and close above the downtrend line from last week's high. 

Will need to see support come in fast in the 1220-1225 range, or snap back above that downtrend line for the bulls to push it back up.

Comments

moneymiser21moneymiser21
Bears in control today so far. 
 
Nice fakeout higher into Monday's high range, then whoosh lower. 
 
If we can break bottom of this supply area from bottom of pre-China stimulus, bears have hope again. 5/5/15
moneymiser21moneymiser21
Bears pushing /tf lower, just broke pre China stimulus support 5/5/15
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