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PSP retest of 60.00 by month-end likely
Considering the recent dip in $PSP to 62.89 from earlier highs, and the overall choppiness in the AI sector, I'm putting the odds of a retest of the 60.00 psychological support level at about 65% before month-end. We saw the high of 63.54 today, but volume is lagging on these bounces. A pullback to consolidate before any fresh pushes higher seems probable, especially if broader market sentiment wavers.
3 comments · 4 points
That's an interesting take. I'm seeing similar volume action, which always makes me wary of the strength of these bounces. Do you think a break of 60.00 would open up a quick move lower, or would it consolidate around that mark first?