Where do we go now? On shorter time frames it looks like a head and shoulders pattern could be forming, but this is not yet confirmed...if that falls apart we should test the red trendline...if it holds we may have found ourselves in an even bigger ascending triangle...if not that's bad news BEARS. $400 level would be next up.
Comments
chequeyoxbt
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I think we'll hang out in the 420s first. There are huge longs open at that level
ltc-joe
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Sure there is also some horizontal and fib support there...but to me there's a high probability we make it down to test 400...but ya that could be a good place to scalp or buy a dip on the way down...