JPM Daily Analysis

BATS:JPM   JP Morgan Chase & Co
Currently located in a bullish channel , but has since broken rising trend support (black line). Three scenarios are listed. The first is an acceleration of the recent bear move down through channel support. The next is a break of the channel, a retest, and further bearish resumption. Finally, there is a good possibility that the price action finds support at the channel, and would be poised for further bullish price action, perhaps until a test of the higher rail around the $45 level (where I would be looking to take a short position)

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