Thursday was a "doji" pause day, opening near the low and closing near the low of the day, near key 2250 double-bottom support on the daily chart.
If a pause doji day is then followed by a sustained decline below key support of 2250, we can expect to see a very large-range liquidation day. For NQ, there is no real support until the next double-bottom support on the daily chart, at a price level of 2190 area.
If NQ can stay above 2250 it can result in another consolidation day. However, a sustained break above 2265 has the potential to trigger a powerful large-range one day short-covering profit-taking rally targeting 2285 - 2300 zone.
Forensic Analysis of Fed Action on Silver Price
2 years ago
