Looks like we may get a reversal by the end of today. Note that we are currently 61.8% retracement with a strong directional candlestick at the bottom. Looking for a potential reversal by end of day today in which our minimum upside target will be $71.46. If we break through the lower support of at the 61.80% retracement (or $70.18) to the downside> look for a target of $66.02. Note shown here, are the technical indicators giving a strong signal that a reversal may be possible. Also, please note the vertical grey timing lines on this chart. We are looking at the dates August 2 and/or September 4 before the next major strong directional trend (up or down) may begin and price will probably consolidate between the above ranges until then.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.