Finally we are seeing a sharp pullback following a huge jump in price with a small gap (which signaled exhaustion at this level).
Naturally the trend will retest our previous major resistance now support at $67.
Technicals pint towards the retest. MACD/SIGNAL made a beautiful cross headed towards 0 line. RVI is making a parallel correction through 0 line which signaled this sell off and we can see RSI made a sharp dive into the oversold zone.
Retest $67 for a pivot or continuation though.
Please comment with thoughts and ideas. Thank you.
I agree with this. I thinking the pivot is be weak having spend too much time before rise. But I agree that take profit here be good idea. I would do same. Thank you!