Downtrend started in June 2014 followed by range trade from August to October 2014. Twice failed breakout to the upside: the 2nd one on the 01 Oct 2014 more significant proving that the trend is bear (below the 1x1 Gann line). This morning (16 Oct 2014), after the usual weekly inventory report, we had a final move below 3.80 support level.
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huntingsniper
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Interesting! where do you see the target for this drop?