A few days ago, we defined a near support at 4.05. Within a few minutes, fundamental news streamed in with overweighing bears in the waves. This caused us to defined a stronger support down below, which came at the 3.43 value, which is at the market close today.
That 3.43 target holds above the lower . If that channel offers support, this might add further insight to the retail trader, but we just received an early reversal signal, albeit unconfirmed. So, until that confirmation, we will stay in the back checking the pulse on this one.
Based on above analysis and unconfirmed signal, we will keep the "Direction Prediction" indicator on "NEUTRAL" for the time being, until we receive a reversal confirmation.
David Alcindor | 4xQuad.com
Predictive Analysis & Forecasting