Bounce off blue line could indicate good long play to 14
lower blue line has been support on multiple occasions; its the weekly chart support line;
Overall, we're in a downward wedge; it is not being squeezed, so i do expect the price to continue to go down; but you can catch it going up first before it continues to move even lower;
Price target for me is 14
But absolutely wait for the bounce first; even after the bounce; your sell point should still revolve around the blue line;
Overall, we're in a downward wedge; it is not being squeezed, so i do expect the price to continue to go down; but you can catch it going up first before it continues to move even lower;
Price target for me is 14
But absolutely wait for the bounce first; even after the bounce; your sell point should still revolve around the blue line;
Trade closed: stop reached
Looks like it broke the channel; this is most likely going to continue to head down now; unchartted territory; so we don't really know how low it will go.
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