Weekly Chart we are up against a big fat resistance.
It might sound a little bit crazy, but I bought puts on this one because I'm expecting price to drop.
I think we could go down to the trendline I drew below.
This is the type of chart work that helps traders make money in the markets.
This is really simple. If it breaks above, we go long and if we don't we go short, it is just that simple.
Here is something else to think about... they are saying that we might not get as many rate cuts as the market is hoping.
This could cause the break to fall short.
I will let you know how it works out.
To Your Trading Success,
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