Just a bit of observation and speculation based on volume declines and spikes + upper wicks, support and resistance and Gann. The Gann fan resistance of 8/1 from the Dec 17 high to Dec 18 low got rejected; a nice triangle would form at around 4400 of the 8/1 from Dec 18 low to June 19 high. This 4200-4400 area is the same area that saw massive amounts of volume in Nov 18, it bounced, broke down, retested, broke down, retested, retested and retested before breaking through and soaring.
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Inverted chart looks so god damn bear!
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Forgot about this...
As I wouldn't want anything losing money by following this trade or thinking that we'll hit 4k's... I have to say I don't think we will... the 6.5k to me looks double bottom-ish with the OBV rising and breaking out, similar to the adam and eve bottom and OBV breakout around the 3k's...
As I wouldn't want anything losing money by following this trade or thinking that we'll hit 4k's... I have to say I don't think we will... the 6.5k to me looks double bottom-ish with the OBV rising and breaking out, similar to the adam and eve bottom and OBV breakout around the 3k's...