Currently we are in convergence between the channels, hence the intraday price volatility and wild sudden swings. The two most important trend lines intersect on 4/20. I think that we continue to toy with this trend bottom line until then; however, the volumes need to pick up if the bulls are going to win this. We've only had two weeks of solid buy volume since the start of the downtrend, while sell volume has only gone below once.
If that trend line breaks, the next most conservative bet would be about 4k. I've also noted the july trend line, which would put us at about 6.7k next week (+200n going forward).
Comments and criticisms are appreciated.
If that trend line breaks, the next most conservative bet would be about 4k. I've also noted the july trend line, which would put us at about 6.7k next week (+200n going forward).
Comments and criticisms are appreciated.