Unless we have press i assume we will see 5.80 pos
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(Total Views: 651)
Posted On: 02/08/2021 5:02:01 PM
Unless we have press i assume we will see 5.80 possibly tommorow ... Above 6.20 as of today would be a area to watch for a change in trend
Descending trend line as resistance so point of breakout will change/ lower as we move forward in time.
There is a gap below between 5.63 and 5.74 if I remember correctly
If I had to guess ... I would say 5.50 to 5.80 as the bottom followed by a bounce .. And then a decline once again .. This should complete a retrace at around 61.8 % holding above 5.50 ...
Chart is a little messy due to those vwap t trades ... Flat price action .... But its how I read the tea leaves as of now.....
I feel like we have been seeing some short covering but its usually accompanied by a hidden seller to keep the sp down .... Im sure this will continue until the are satisfied or we have some news
Descending trend line as resistance so point of breakout will change/ lower as we move forward in time.
There is a gap below between 5.63 and 5.74 if I remember correctly
If I had to guess ... I would say 5.50 to 5.80 as the bottom followed by a bounce .. And then a decline once again .. This should complete a retrace at around 61.8 % holding above 5.50 ...
Chart is a little messy due to those vwap t trades ... Flat price action .... But its how I read the tea leaves as of now.....
I feel like we have been seeing some short covering but its usually accompanied by a hidden seller to keep the sp down .... Im sure this will continue until the are satisfied or we have some news
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