Since we know that the 50 has been so resistive, if price can finally get above it, and hold the 50 as support, that would be a significant turning point in the market. If we see something like that I think that LTC will rally to the "Major Overhead ," around $47.22-$49.14. However, it is important to wait, to see if support can be confirmed. That's because we are technically at a major level of resistance that has relentlessly defeated LTC. So, technical, the odds are that LTC will lose. Those are the odds, but the increased buy-volume, the rising buy-side momentum, and the recent divergences tell us that we may be reaching a turning point. So, lets pay close attention to the price action around the 50 . A solid rejection would be a technical sell signal, while sustained support would be a technical buy signal.
Happy Holidays Everyone!
I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***