With price action beginning to see some strong sideways price action, it’s still safe to assume we are likely to see some sort of buyer exhaustion sooner rather than later.
All these levels of support are based on both the VRVP and prior BOSs. As long as we bounce and stay above any or all of these short term support levels, we should still expect higher prices on both the LTF and the MTF.
These are all levels to keep a close eye on if you’re looking for good bounce levels for long positions. I’d keep an eye on these levels this week, as I’ve got a feeling we are likely to at LEAST retest one of them!
