Loading ...At this point I don’t think anyone knows for sure. Hui in a parabolic push and they tend to top and fall at such point and not sustained long term. Yesterday was very bullish so not surprised to today’s gap up. Tomorrow or the next day it could attempt to fill the gap moving down. If it fills the gap it may not look too bullish short term but if it doesn’t it could have room to move up more. ” Could” Normally in this situation but PMs aren’t normal.
I think most of us are expecting a drop near term. Occasionally it can keep moving up for a bit. It will depend once it drops what channel it’ falls in if this is it or if it will drop again. How far it drops in other words. Per Armstrong he believes it has to put on a low maybe even breaching 80 s lows before it takes off like it did in the 70s before it took off. Looking at history of behavior is good but I found through being in health care each situation is different. You are narrowing your perspective if you judge one situation on a previous one. They may have similarities but not always the same. For instance you can have two people with the same exact injuries, same treatment but one lives the other dies. You can’t assume anything based on past events despite the experience with it. Ive seen even doctors getting caught up in that and there no going back from a loss as stocks. Id say just watch the charts and don’t be long or hedge with shorts till you know its in a bullish uptrend for sure.