Well then, we can see that there is definitely a new level of support that has been created, indicated by the dotted blue line, and closed above what we had hoped for. Hopefully, due to the two closes above the 0.618 fib line, we can keep running right along side or above the upward trend line. If it does fall below the trend line, it may form the left shoulder of...
So, it looks like it has traced back down to about as expected, and still bouncing off that resistance line. I do believe that we have reached a new level of support, indicated by the dotted blue line, and it should position itself down slightly to intersect with the EMA18 on the Bills-3. What we really need to do is full break the resistance line to confirm the...
It would only be safe to assume that CGY it is going to test ~32.40 again at the 0.5 Fibonacci retrace for confirmation. There is some seriously heavy resistance, indicated by the dashed red line at this mark though. If it can hold above for a few bars, I do believe that there is some buyer conviction coming through. but we will see where we end up after today's...
