Not convinced on bull or bear side. Totally neutral right now. I need more confirmation but here is what I see.
We had some decent buying by bulls @ $10.20 which is a critical support level . Bad news for bulls there wasn't any decent buying after that.
In my opinion price will break down towards $6.20 -$5.50 range, but If we do show signs of buying pressure, I'll buy and sell this puppy @ $17.
Strategy: See if you see a long wick on the 4 hour towards the top or bottom this week on the 4 hour time frame. That'll give us a hint if price has more buying/selling pressure. I would wait to see if what happens @ $10.20 because it should touch there at some point.
Remember this s not financial advice just me giving my opinion on what I see on the charts
We had some decent buying by bulls @ $10.20 which is a critical support level . Bad news for bulls there wasn't any decent buying after that.
In my opinion price will break down towards $6.20 -$5.50 range, but If we do show signs of buying pressure, I'll buy and sell this puppy @ $17.
Strategy: See if you see a long wick on the 4 hour towards the top or bottom this week on the 4 hour time frame. That'll give us a hint if price has more buying/selling pressure. I would wait to see if what happens @ $10.20 because it should touch there at some point.
Remember this s not financial advice just me giving my opinion on what I see on the charts