- Price diverging from the 11EMA and 60 VMA. Breakdown should send this to 5.10 and ATL. That might be last impulse move to downside. 4.5 would another zone of interest for bottom.
- no reason to be bullish here. Downside capitulation risk is high here.
Comment:
Showing failed breakdown pattern. If it can build above 7, likely takes another shot at 8.11, price action there would decide if this breaks out or fizzles near 200DMA. No position yet.
Trade closed: stop reached:
Evidence is stacking that failed bearflag is now bullish consolidation. Breakout eminent. level to watch is 8-8.30
Trade closed: stop reached
Comment:
Picking up steam after choppiness for days. 8.1 zone is critical...test and hold should really set this up for higher price. Went Long this morning at 7.14
Comment:
Today seems to be great entry point around 8 with tight stop at 8.05 or even 7.90
Patience will get rewarded.
Patience will get rewarded.