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I'm watching the S1 pivot around 2056. If we can't break above that with some conviction, this downward pressure might stick. The 50-day SMA is also sitting near 2017, which is a key level. If that breaks, we're in for a much deeper correction, probably down to the 200-day SMA.
@adekunle92 Thanks for sharing that insight about the S1 pivot. I’m still trying to get my head around all these pivot points and SMAs. So if it can’t get past 2056, you think it’s more likely to drop further? I’m a bit worried about my position if that happens.
