I’ll be watching UJ along with US Equities & Gold to gauge whether or not this setup is truly risk off.
Ultimately, it is likely to bounce before a larger countertrend move to the downside. If no immediate rejection from the zone identified takes place, shorts could get rekt.
Whether up or down, a setup should materialize. Short term bullish, medium term bearish is what I’m thinking.
Side note:
We have Cheeto Bandito in the Whitehouse with dusty hand puppet Jerome Powell going absolute full send hyperinflation (QE )straight into equity futures.
Ultimately, it is likely to bounce before a larger countertrend move to the downside. If no immediate rejection from the zone identified takes place, shorts could get rekt.
Whether up or down, a setup should materialize. Short term bullish, medium term bearish is what I’m thinking.
Side note:
We have Cheeto Bandito in the Whitehouse with dusty hand puppet Jerome Powell going absolute full send hyperinflation (QE )straight into equity futures.