Bull Case:
the 100 EMA was our resistance this time last year
we broke through 100 EMA in June
we bounced off the 100 EMA as support in August
Bear Case:
the current downward channel we are
the gap at 17.00
In my opinion my original post is going to be correct. I think we bounce off the 100 ema again, and the gap doesn't come in to play for another 6-8 months. I expect further selling the next 1-3 days before there is a significant squeeze that puts us above 25 by October 20.
Just my two cents.
the 100 EMA was our resistance this time last year
we broke through 100 EMA in June
we bounced off the 100 EMA as support in August
Bear Case:
the current downward channel we are
the gap at 17.00
In my opinion my original post is going to be correct. I think we bounce off the 100 ema again, and the gap doesn't come in to play for another 6-8 months. I expect further selling the next 1-3 days before there is a significant squeeze that puts us above 25 by October 20.
Just my two cents.