By Christopher Romano — Jan 20 - 11:55 AM
Rally sellers emerged on Jan 19 & an daily inverted hammer formed
That bear signals gets negated today after Tuesday's high breaks
Piercing of 10-DMA & rising daily, monthly RSIs are concerns for shorts
Break of 0.7640/45 support, 23.6% Fib of 0.6690-0.7819 gives bears control
Bulls gain more traction above 0.7815/20, 0.7890/00 is then targeted
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Source:
Refinitiv IFR Research/Market Commentary