Today price action confirm a falling wedge that I sketch. So far no strong sign of bullish divergence yet in the 30 min chart. I expect more volatility tomorrow and Friday. The target will be based on the Fibbonaci of .236 with our recent high at $44.44 and the current low based on the first green candle opening at $37.80 at lowest of $37.75 on October 14th. The price is around the $39.30s. After that I expect a quick bounce. Expect more volatility with price trapping bears and bulls this week and next week. T
Kommentera:
it appears i was off a bit. at first i will change and say we are out of the falling wedge and i was wrong but the resistance price $41.94 hovers around my $41.88 .618 level fib so my falling wedge is still in play unless it breaks out $43 and retest the .618 level as the new support.
Kommentera:
so i slightly adjust my falling wedge base on the $41.94 resistance. until the that price becomes the new support im still thinking we are in a bigger falling wedge.
