We were anticipating a breakout when we cleared the 7.23$ level yeateday afternoon. Target is as high as 16$ However it won’t be striaght up. We may need to backtest that breakout as new support and considlte at the 8$ level. So far we broke down end of day from a smal risinf wedge with a target of 8.75$. We have some FIB levels (blue lines) marked as some resiatnce above. We have so far tested and rejected at the .5 fib roughly 9.34. Let’s see how it plays out. Could come as low as 7.23-7.15 but I’d expect 7.95-7.80 to hold as a back test of breakout if it needs to come back down. Would still be a higher low!
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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.