So here we have two strong walls, upper & lower.
We will inevitability break through one or the other, but as it stands now, which one remains to be seen.
We are down-trending at the moment, it would seem, with the walls closing in tighter with less range. Ping-ponging have you.
At some point the trend will break free either way.
Keep a close eye on the lower for stop-loss and the upper for additional buying opportunities.
A contrarian might say this is the range to buy in, little by little.... but I couldn't say at this point. Still think long term is upward with lower floors a possibility until it breaks the upper wall.
I am not your financial advisor. Please do your own research & DD.
We will inevitability break through one or the other, but as it stands now, which one remains to be seen.
We are down-trending at the moment, it would seem, with the walls closing in tighter with less range. Ping-ponging have you.
At some point the trend will break free either way.
Keep a close eye on the lower for stop-loss and the upper for additional buying opportunities.
A contrarian might say this is the range to buy in, little by little.... but I couldn't say at this point. Still think long term is upward with lower floors a possibility until it breaks the upper wall.
I am not your financial advisor. Please do your own research & DD.
Comment:
Upper resistance has become strong support.
Comment:
And so we are back in the channel and walls of resistance.
