Shortly after I posted my last chart, XEM successfully broke out of the falling wedge and made a nice run up to 1784, then consolidated a bit, and shot straight to 1984 hitting exactly the fib level from my fib fan. Right now we are seeing a retracement to 1784 which became a new strong support level.
My projection is that we will probably see a bit of consolidation again and then make another attempt at breaking 2000. Once 2000 breaks we will probably see the price jump into the mid to high 2000s.
My projection is that we will probably see a bit of consolidation again and then make another attempt at breaking 2000. Once 2000 breaks we will probably see the price jump into the mid to high 2000s.
