Every week I look at the Yellow Pea chart.
Every week I do not see anything interesting to report.
You can read my August 9 report using this link, Yellow Peas.
Here is a summary of my August 9 comments:
The 50% retracement is a level where buyers often step in, marking a pivot level and price reversal.
However, I find the 61.8% Fib retracement level more reliable, located near the 2021 high.
Previous resistance often acts as Support with the confluence with the Fib level producing an ideal level for a bounce.
My strategy tells me to give the price a chance to settle down, perhaps finding support at these levels before committing to new sales.
As anticipated, Buyers stepped in at the 61.8% Fibonacci Retracement level, and I have not published any sale recommendations to date.
Readers have remained LONG Yellow Peas.
Has anything changed?
Let’s take a look.
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