Hey Dogers!
Gaps need to be closed between 12 and 6 cents
If we don't dip into the blue box to close those gaps now, we will likely break 16 cents on the climb to ~20 cents at the 0.5 FIB before falling down
Bull: extend to 20 cents, pull back to 16, extend to ~32 and beyond?
Balanced: Consolidate around 8-9 cents (bottom of the blue box) meaning ups n downs with lower highs around 14 and higher lows in the 6-7 cent range
Bear: Drop to test 4.9, pull back to ~11, fall down to ~0.1 0.2
I think the bull case is most likely in the short term, lasting to the end of the year. We are coming off a multi month bear side, we should see a few weeks of consolidation before more volatility.
Gaps need to be closed between 12 and 6 cents
If we don't dip into the blue box to close those gaps now, we will likely break 16 cents on the climb to ~20 cents at the 0.5 FIB before falling down
Bull: extend to 20 cents, pull back to 16, extend to ~32 and beyond?
Balanced: Consolidate around 8-9 cents (bottom of the blue box) meaning ups n downs with lower highs around 14 and higher lows in the 6-7 cent range
Bear: Drop to test 4.9, pull back to ~11, fall down to ~0.1 0.2
I think the bull case is most likely in the short term, lasting to the end of the year. We are coming off a multi month bear side, we should see a few weeks of consolidation before more volatility.
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Disclaimer
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.