Last 2 Analysis on point, art of reversing a down trend cont....

The call for the pullback from 160 to 120-130 area was on point and this 120-130 area has held nicely. i outlined how I think things could play out. But overall, this pattern is looking much better then the previous one. The last pattern we had in the 200 range formed a continuation triangle, whereas this is forming more what it looks like to be an ascending triangle. This overarching theme is still forming and holding nicely, it's also being confirmed by a sloping MACD and a sloping RSI that are moving in the upward direction. Remember it always takes time to buck a down trend and we are about there.

if we continue to move up and not break below 120 expect a move to 200 in the near future.

Happy trading and hodling.

-Sherem

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Last 2 posts for reference: