There are a ton of lines on this chart. We are still in a downtrend from the height of 182. At this point in time, I am paying attention to price action. If I had played the 182 a little smarter I would have went long at the 129 level like we saw many people do today. The trend is your friend.
I am looking at the 123-117 to offer a significant bounce, but if this does not occur we drop with very little resistance and the testing of lower levels. From a classical chart perspective the bear flag has formed and has a bottom potential (blue arrow) of the low that we had on Feb 06 2018.
Not advice, just my observations.
I am looking at the 123-117 to offer a significant bounce, but if this does not occur we drop with very little resistance and the testing of lower levels. From a classical chart perspective the bear flag has formed and has a bottom potential (blue arrow) of the low that we had on Feb 06 2018.
Not advice, just my observations.
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We may not see the low 120's.
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The failure at the 140.70 puts down back in play.
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I am not sure that we will see anything much lower than 115.
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It has met my target. If it drops lower I will only play a small portion. I have made my gains for the monthly goal.
