I think we're in the process of seeing a fake breakout above resistance. Over the past few weeks, price has moved up past the $152 resistance, but price looks like it's now rolling over. Upon a break of that $152 resistance on support, it sets up the possibility for price to crash back to the $122 region before finding support.
I've put key dates on the charts for changes in price action, let's see what happens over the next month or two.
I've put key dates on the charts for changes in price action, let's see what happens over the next month or two.
Comment:
Got the big move down today. Let's see if it makes it all the way down to the lower support. Taking profits on my shorts at $131
Comment:
Target achieved. Fully out of my shorts now.