Market like the US broke history high. Europe and Asia markets kept attacking the high side. Whatever it is, each ever market they are, majority are now at the resistant level. Coincidently, it hit this level inside the week of option expiry.
Next week Jackson Hole meeting then follow by future expiry. Expect volatility. A retracement or pull back may take place. Big boys may use this level/opportunity to cover their long position. How many long positions they have? What type of settlement they prefer? I do not know. We just have to watch and monitor. Whether you trade on this retracement/pullback, to buy or to sell, you trade what you see and you make sure you know what you are doing.
Next week Jackson Hole meeting then follow by future expiry. Expect volatility. A retracement or pull back may take place. Big boys may use this level/opportunity to cover their long position. How many long positions they have? What type of settlement they prefer? I do not know. We just have to watch and monitor. Whether you trade on this retracement/pullback, to buy or to sell, you trade what you see and you make sure you know what you are doing.
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