G’day Surfers – welcome to what normally would be the last day of February – you single guys better be careful tomorrow!!!!
Well the market produced the expected pullback to DP yesterday and has since tried to rally again but is today, so far struggling to maintain northerly momentum. Price is in a critical area right now and finding resistance at D-R1 as well as support at DP and S/R trendline convergence. We are right on top of todays #1 hotspot so get ready for some early action.
We are of course still in the oversold area of a bullish channel but the pullback may well have been enough of a rest for price to continue it’s northward surge. As always, we await AAA setups at our HOTSPOT.
Happy surfing everyone.
Geoff | Certified SurfingThePips Trader