Alrighty...
Here's the long view
We can see that an incline trend started way back in March. STRAT went way up to 450K in June and then came back down to meet it in November and December.
You can see it riding along the incline trend bouncing off of it here and there.
It takes off on a solid gain for about a month and than hits strong resistance at 156k, a previous point of support and resistance. STRAT then settles back down on the incline for a couple days. It hits strong resistance from the downward trend that started mid January, pushing it down below the long standing incline trend and a more recently established point of support and resistance at 64.5K
Zooming in to the 1H
We can see that its going horizontal right now but its below previous support and its coming into strong resistance form the solid red downward trend.
My feeling is that there isn't enough support where its at to withstand the force of the downward trend. The only support I see that is strong enough is around 40k.
If it can push through to the other side of the downward trend there isn't much stopping STRAT from going back up onto the incline trend.
What do you think?
Here's the long view
We can see that an incline trend started way back in March. STRAT went way up to 450K in June and then came back down to meet it in November and December.
You can see it riding along the incline trend bouncing off of it here and there.
It takes off on a solid gain for about a month and than hits strong resistance at 156k, a previous point of support and resistance. STRAT then settles back down on the incline for a couple days. It hits strong resistance from the downward trend that started mid January, pushing it down below the long standing incline trend and a more recently established point of support and resistance at 64.5K
Zooming in to the 1H
We can see that its going horizontal right now but its below previous support and its coming into strong resistance form the solid red downward trend.
My feeling is that there isn't enough support where its at to withstand the force of the downward trend. The only support I see that is strong enough is around 40k.
If it can push through to the other side of the downward trend there isn't much stopping STRAT from going back up onto the incline trend.
What do you think?