I think we had structural trend failure of the bear market last week. Typically once a 86 is hit, we'll retest the 76 (Can go as low as 61, would buy there too) and then the rally continues.
Unless this has been a really brutal fake-out, we should typically see buyers coming in as we retest these levels.
If we do and we get higher, I think we're going to see a vicious short squeeze.
Unless this has been a really brutal fake-out, we should typically see buyers coming in as we retest these levels.
If we do and we get higher, I think we're going to see a vicious short squeeze.