(Someone asked me how I came up with those lines. This is what I generally look at and I usually take everything away to show more relevant lines, but here is what I utilize for analysis.) Solid Lines: High Strength Support/Resistance Small Dotted Lines: Medium Strength Support/ Resistance Lines with Dash Marks: Low Strength Support/ Resistance *White Dashed Line: Weak-Ass Punk Support/ Resistance
Large Scale Image if what I am looking at:
Howdy doo y’all!
Tarnation folks, seems like our entry target go blown through faster than a guy who hired an enthusiastic 2$ lady-of-the-night. I estimated that we would stop in the $7650-7710 range to take a turn up. That was dag-on flat out wrong!
Since it has passed through the sweet sides of our waffle ice cream cone; we now have to rely on out paper cup ice-cream-cone-holder to catch all of that sugary goodness. Unfortunately, as much as I want to tell you all that it will sky rocket, it seems we have a bit more falling down to do as that last support failed. I believe that drop was the baginings of an inverse Elliott Wave.
I do not see much of anything that will hold/ push this up so I reckon we is’a heading to touch the $7000 range.
Remember, don't drink and trade...always ask someone to hold your beer first!