EJ is currently at a very interesting point:
- lower boundary of a weekly pennant/triangle could indicate a short term push up
- at the same point we are crossing the control price of the bearish value channel if we close below it there is good downwards potential
- 200 MA is pushing it further down
Short term I'm anticipating a bounce to the upper value channel boundary or even above (125-126) area, followed by another selloff to the bottom of the channel (121-122) area
- lower boundary of a weekly pennant/triangle could indicate a short term push up
- at the same point we are crossing the control price of the bearish value channel if we close below it there is good downwards potential
- 200 MA is pushing it further down
Short term I'm anticipating a bounce to the upper value channel boundary or even above (125-126) area, followed by another selloff to the bottom of the channel (121-122) area