Sentiment is starting to feel a lot like May 2019 all over again.
Let's look at the facts in the charts:
152 will be a major support level if not the most likely bottom
The RSI on our CM Ultimate indicator is at 34, a level that once we close at, tells us further downside is highly probable for about 1-4 more weeks
In my last post I indicated how in the worst case scenario, the 200 MA on the 2 week chart at $122 would be your major support level. This remains a possibility, but I will NOT say it is probable until $152 flips into resistance.
On the weekly chart, we can also see every time a green bar was printed on the CM indicator, it signaled that the official bottom was in. On the 3 day chart we DID have a misfire for the first time ever which is out of the ordinary. Watching for this green bar to print here within the next 1-4 weeks
Let's look at the facts in the charts:
152 will be a major support level if not the most likely bottom
The RSI on our CM Ultimate indicator is at 34, a level that once we close at, tells us further downside is highly probable for about 1-4 more weeks
In my last post I indicated how in the worst case scenario, the 200 MA on the 2 week chart at $122 would be your major support level. This remains a possibility, but I will NOT say it is probable until $152 flips into resistance.
On the weekly chart, we can also see every time a green bar was printed on the CM indicator, it signaled that the official bottom was in. On the 3 day chart we DID have a misfire for the first time ever which is out of the ordinary. Watching for this green bar to print here within the next 1-4 weeks