We are nearing the supply are or heavy support (shaded Area). The large candle gives high probability to a small rebound. We are looking for for the candle to be smaller nearing $100, or a long bearish candle breaking thru $100 with force. This would (IMHO) cause some crazy volatility.
Caveat Emptor!
Caveat Emptor!
Trade closed: target reached:
It is important to note that FEAR lies in the shadow box. There is fear in that box and people fearing the possibility of breaking $100 -- Lots of sell orders will be tripped -- will there be more buy orders?
Comment:
I think $90.36 should hold and give us a possible bounce before the next leg down. I stated there was "supply" in the $100 are which signified sellers ready to jump ship.
Comment:
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