Last post on this was April 28th and I was looking at either a $420 LTC or a $370 (channel midpoint) which was hit this AM/yesterday. 11 days.
LTC is acting as expected and staying within the channel. RSI is in overbought territory and MACD has turned light green so we are gearing up for a pullback. These half waves run 10-12 days for LTC so the question now is whether we pull back to the MA's or bottom channel. In 10 days the bottom of the channel will be about $265 and the 20 Day EMA will be roughly $295 and that is what I am looking for. Market sentiment is too strong for LTC to pull all the way back.
A $295 pullback will give the MAs time to converge, the MACD to bottom and the RSI to show oversold.
If that holds true, the the next 10/12 day (20-24 days from today) run will push to the upperband or around $570.
Any thoughts?
LTC is acting as expected and staying within the channel. RSI is in overbought territory and MACD has turned light green so we are gearing up for a pullback. These half waves run 10-12 days for LTC so the question now is whether we pull back to the MA's or bottom channel. In 10 days the bottom of the channel will be about $265 and the 20 Day EMA will be roughly $295 and that is what I am looking for. Market sentiment is too strong for LTC to pull all the way back.
A $295 pullback will give the MAs time to converge, the MACD to bottom and the RSI to show oversold.
If that holds true, the the next 10/12 day (20-24 days from today) run will push to the upperband or around $570.
Any thoughts?