Further Drop before Rebound?

19 thg 4, 2017

I have drawn in the fib retracements based on the previous run, and we're hovering around fib68.1. I'm 50/50 on whether this, and the psychological $2.50 CDN support will hold. If it fails, we may see return to the previous support and low of around $2.15 CDN.

My reasoning is:

• Bear volume increased yesterday (18-Apr)
  
• RSI is at midpoint - could swing either way
  
• Stochastic oscillator %K is still well below %D - this has been quite reliable over recent months
  

The red area denotes the potential drop.