Incorrectly described the Three Drives as a Skewed H&S. Think the real H&S is forming now. Hopefully we have one last gasp up past $11k and then tumble. Would guess there's a bunch of psychological support at $10k -- but the strongest line of support remains $8,900-ish. (Maybe we'll get some wick touches there?)
Comment:
Dropped a little too precipitously to $10k support. Still expect a right shoulder to form before we see the real drop/recovery. You could make a case we saw a diminutive shoulder, but my money is on a bull trap being set up to $11k.
Trade closed: target reached:
Bull trap up to $11,600. Finally hit our strongest area of support: $8,900. A few wick touches below that. Would guess we encounter this area of support again before the real climb up begins.
