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Assessment: We did get some selling yesterday, and it did break the 50 day moving average. I expected the break given the lack of volume and bullish interest, but I also expected the first break wouldn’t be the break and then it sold hard from there. So, the expectation is the bulls will recover it today and get it back above the 50 day moving average. The back and forth fight will continue for a few days before the likely ultimate break and further sell-off. Let’s see how it goes!
Good luck in your trades!