in the 1996, when BAC broke the 18 dollar, it went on to make at time high of around 49 dollar
and 1998 financial crisis and dot.com bubble sent it right back from where it started - the 18 and found support
subsequently from 2003, it went on a 5.5 years of uninterrupted uptrend all the way to 54 meeting the blue channel top resistance. Price was sent packing and the impact was so heavy that i broke down the 18 dollar support.
As you can see, since recovering from March 2009 low, price has been trying to break that 18, which in all four occasions, FAILED! as a result we have a double top and i am suspecting another double top below that 18 again??
and 1998 financial crisis and dot.com bubble sent it right back from where it started - the 18 and found support
subsequently from 2003, it went on a 5.5 years of uninterrupted uptrend all the way to 54 meeting the blue channel top resistance. Price was sent packing and the impact was so heavy that i broke down the 18 dollar support.
As you can see, since recovering from March 2009 low, price has been trying to break that 18, which in all four occasions, FAILED! as a result we have a double top and i am suspecting another double top below that 18 again??
Comment:
Long