Final Week of January
hi friends,
I was unable to make today’s morning session of volatility today due to covid but managed to wake up for the tail end of the day for some points.
Today’s session involved the capitulatory nature we were looking for from bulls and involved activity from dealer unwinding shorts and new business from participants coming in as prices were extremely unfair on the downside relative to time, which led to a massive upside move from mid to end of day.
Prices looked to retest towards 4250 after falling under 4272 but were quickly bidded which is the intraday move of a likely ‘retest-of-lower-prices-see-if-someone-is-holding-bid-and-fail-to-hold-lower’.
I don’t think volatility is over with so I believe it is still in the best interest to be open minded that volatility will work for both buyers and sellers as prices get unfair on both ends of the extremes.
With that being said, here is what I’m thinking how price will flow for the next 2 days.