So overall this trend on a daily looks phenominal. We had a huge channel we ping pong in from 16$-32$ for a while with the occasional wick up to the 37$ which gave us the most resitance
Currently we have been holding a flat support base from 36.30- and downtrendinf reistance roughly around 40.50$
Now currently on an hourly I see a large symetrical triangle formed. Support around 36.91 reistance 40$
We are sitting in support of it now with one fakeout we had today down to 36.40 flat support
The probalem for me is if we breakdown and lose that flat support 36.40,
The floor can fall out from under us pretty fast
Targeting 32-31$ as low as 28$
If the market contiues to sell off and LI cannot manage to Hold this lower support we may see a nasty drop. Be patient and wait for your confirmation but if this happens you best belive I will be there to jump on the short
Currently we have been holding a flat support base from 36.30- and downtrendinf reistance roughly around 40.50$
Now currently on an hourly I see a large symetrical triangle formed. Support around 36.91 reistance 40$
We are sitting in support of it now with one fakeout we had today down to 36.40 flat support
The probalem for me is if we breakdown and lose that flat support 36.40,
The floor can fall out from under us pretty fast
Targeting 32-31$ as low as 28$
If the market contiues to sell off and LI cannot manage to Hold this lower support we may see a nasty drop. Be patient and wait for your confirmation but if this happens you best belive I will be there to jump on the short