Mar. 22 at 11:12 AM
$CCJ broke Friday’s horizontal support — short-term structure shift is clear: sellers in control, bulls trapped.
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Trading below the 50 EMA adds bearish weight; prior
support now acts as resistance. Any bounce could see trapped longs selling, fueling downside.
No juicy setup yet — price either reclaims support with strong follow-through, or drifts toward the 200 EMA for a potential pivot low.
Patience is key. This is a wait-for-confirmation market.