Above is a daily chart of MSOS, and like I mentioned the other day, the key level we need to break is $4. Getting above this price would signal a shift in momentum back in favor of the bulls. Right now, that small gap from $3.94 to $4 is acting as resistance, and it coincides neatly with the downtrend line drawn from the October 15th high. Watching volume will be critical to confirm which direction the market wants to take.
I’m still holding about 75% of my long position from the summer lows, and I have to admit, it’s frustrating, like many others, I’ve given back a fair portion of gains. But this is how the market works, and patience is part of the game. A bullish green candle breaking through resistance on heavy volume would be ideal, and it’s the kind of confirmation that could signal a real shift in market sentiment.
In my opinion, this is a pivotal area for MSOS. I’m taking it one day at a time, carefully watching for signs of where money is flowing into this ETF. Observing volume, price action, and the reaction around $4 will guide my next move, and I’m staying disciplined, ready to respond to whatever the market gives us.
For more of my daily market breakdowns, you can head over to my homepage: https://therelativestrengthtrader.blogspot.com/
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