R
ReddyLeaf
Guest
Really appreciate your analysis. My simple, flat-line mind says that somebody really doesn’t want the SP to get above about $715.You know how sometimes you draw on a chart after the fact and are like "damn, I wish I traded that but its all good"? And then other times you can't believe you missed the obvious telegraph?
The early March bottom in the mid 500's is the latter.
Anyway, we're fixin on potentially an ascending triangle in the short timeframe and a symmetrical in the mid timeframe, both using the same uptrend TL. If we break the ascending quickly we may see a run up to the high 700's, but I'd bet that the symmetrical will hold. If the ascending holds over the next day or three then I see price testing the uptrend, down in the low 600's.
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