Nov. 14 at 3:58 AM
$NYT: The current market context shows a strong upward momentum with the last close at
$64.49, near the 60D high of
$64.75. The RSI at 85.89 indicates overbought conditions, suggesting potential price correction or consolidation. The MA30 and MA50 are significantly lower at 57.44 and 57.65, respectively, indicating a strong bullish trend but also highlighting the distance from these moving averages.
Directional bias is cautiously bullish, but with the high RSI, a pullback may occur. Suggested entry is at
$64.00 to capture any potential retracement. Set a stop loss at
$62.50 to manage risk. Target 1 is
$66.00, aligning with the psychological level above the recent high, and Target 2 is
$67.50, considering further upward momentum if the trend continues.
Monitor the price action closely, especially if RSI begins to decline.
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