From the weekly we cam still tell from the overall trend we are bearish. we need to break out of the long term resistance to turn full bull.
After another month of dumping we have seemed to have found a temporary botom around 275. 300 has a lot of historical volume so we wont place long bets below or shorts above this level.
Going into the daily we have see that we are pretty far from the downward resistance and the 100 day moving average. we have garnered support similar to after the April dumps and could see a relief rally up to the resistance. On the other hand if we break lower support 150 is the next target down, so STOPS close everyone.
Down to the 60 is where we are looking for potential entries. Having rejected off 300 and 302 a few times we are setting alerts for 305 to go long, upside to 375 and if we go below 266 looking to short.
After another month of dumping we have seemed to have found a temporary botom around 275. 300 has a lot of historical volume so we wont place long bets below or shorts above this level.
Going into the daily we have see that we are pretty far from the downward resistance and the 100 day moving average. we have garnered support similar to after the April dumps and could see a relief rally up to the resistance. On the other hand if we break lower support 150 is the next target down, so STOPS close everyone.
Down to the 60 is where we are looking for potential entries. Having rejected off 300 and 302 a few times we are setting alerts for 305 to go long, upside to 375 and if we go below 266 looking to short.