Here are some resistance points for those interested. This is less of advice when to buy or sell, and more a reminder of the points we should be looking at.
$53.30 This is the bottom of the triangle that's held for the past 1.5 months. Dipping below it for a bit is fine, but if we have a sustained breakout this signals potential problems to come.
$50.30 Previous support line from the beginning of the month.
$49.80 Bottom of year long channel. If we go below this then watch out.
Personally I'm holding. This looks bad, but I don't think we're at cataclysmic yet.
$53.30 This is the bottom of the triangle that's held for the past 1.5 months. Dipping below it for a bit is fine, but if we have a sustained breakout this signals potential problems to come.
$50.30 Previous support line from the beginning of the month.
$49.80 Bottom of year long channel. If we go below this then watch out.
Personally I'm holding. This looks bad, but I don't think we're at cataclysmic yet.
Comment:
Looks like we bounced off of $53.30. Definitely a good sign. Would expect an upswing in the next few days. Potentially $56+.