assuming oil leads, both oil and x are going higher once they break up from this falling expanding wedge. big maybe...
Ugly end to this week, but as expected the breakout failed by EOW. Every attempt higher since 18.54 was followed by a pullback to .61-.78 and so was this one. Not sure yet if this can resume higher to close the gap around 30, but it may do so or come down to test 18.54. Fundamentals seem mixed and sentiment is suddenly negative despite positive ER. This may...
iI'm going to phase out of long before this hits 16 and look to reenter in 14s. Or get back in if it breaks out.
Interesting - retraced to .786 (chart on the left). Even if it goes lower I believe it has to rebound first. Still targeting .38 - .5 for a fast bounce target around $410.
Possible bottom of the range between 405-435 for this month.
I'm waiting for this leg to finish to buy some cheap long term calls