Market Open Update on Steem/USD, SBD & Silver (SLV) 1/9/2018

in steem •  2 years ago 

Summary: The price of Steem is moving in an expanded flat channel. I would expect this move to continue to test the 6.04 and 5.46 until 1:00pm when it will hit an inflection timing point.

Summary: SBD is also chopping in a narrowing flat, watch for an initial flash followed by an impulse move.

Summary: Silver made an impulse move down based on overnight action. This is a buy zone.

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Session #2 Update:

Summary: As projected the price of Steem hit the 6.04 level at 1:00pm and what we should look for now is an inflection to indicate which direction we will be making for the rest of the session.

Summary: The dip in SBD was a deep test of the inertial price. SBD should continue to rise into the close.

Summary: We don't have another timing inflection point until tomorrow morning so I would expect choppy trade into the close or a slow drift back to the inertial price zone

EOD Market Update:

Summary: At price and time we had an upward shift in price. Price did not inflect so we may be seeing flat action for the next 24 hours

Summary: Price of SBD recovered over inertial price but did not inflect. Watch for more consolidation

Summary: Silver had aslow drift after initial gap-down at the open. This may be setting up another sell-off in the overnight but it is also likely that we will chop again in a flat until otherwise noted

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STEEM Price : 5.976 $

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