appears to be topping on the weekly chart. The weekly RSI
, Stochastics and MACD
are all sloping down following Monday's sharp 8% plus move lower. I'm expecting up to a few more sessions of slight gains as a few ardent buyers continue buying on pullbacks, with a resumption to the downside continuing by early to mid next week. My first key downside target from here is defined by the more steeply upward support line (of the two that I've drawn), followed by the 2nd more prominent, longer term support line. The round $250 figure is also likely to provide a bit of support. View http://stks.co/b11NE
for today's multiple timeframe
analysis on this as well as other markets.