I thinks news flow over the next few days will be the deciding factor on if this breaks to the upside or the downside. Currently I think it could go either way. I will wait and watch closely.
The uptrend line has been broken (green). We will see what kind of support we get going forward. it is possible we could be seeing the beginning of a reverse head and shoulder pattern starting. I put blue support lines to show what I am looking at... it is really to early to tell though. If that does pan out then that is very bullish. Another bullish trait we...
The up trend line has been broken. It will be interesting to see where support picks up, but for right now it looks like we may see some downside. I may see a retracement to $42 or so if $48 doesnt hold up. If $42 doesn't holed, then we could see it go as low as $28. But who knows?????
Flag formation is still in tact, and Support is barely hangin in there. To me its looking like this will continue into tomorrow. If we break below the flag, look for support at .0425. This does look like a Bull flag though... But who knows... I'll trade either way depending on what happens.
We are testing support as we speak... Flag formation is still intact. If we lose this support level, the flag support could hold. If not, look to see a drop down to the next support line at about .0426
Watch the Support here in this flag throughout the rest of the day. If that green support line breaks, we will most likely see some down side. If it holds , we will probably go higher when we break out of the flag formation.
