When is the next big move coming?
Looking at the volume profile of the consolidation period we've been in since late November, we should expect our next big move to come some time in the third week of January. This also coincides with when this current sideways price action will be hitting the upward sloping long-term trend-line and also getting close to hitting the other side of the downward-sloping channel we've been in since our 14K peak.
The next big move will either break us up from the channel to the high 8ks (purple line) or down from the channel into that red box area, the bottom of which is around 5K.
Happy Holidays and Happy Trading!
The next big move will either break us up from the channel to the high 8ks (purple line) or down from the channel into that red box area, the bottom of which is around 5K.
Happy Holidays and Happy Trading!
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