Few potential short term outcomes.

27 февр. 2018 г.

We have a few strong support areas. We have a closing in on a price triangle potentially leading to a price breakout of the resistance line. If we break upwards with enough volume we could see a nice jump in price. Otherwise in situation two, we are looking for price action to lead us down to our second support around 74.5 cents. We could bounce off this, which is a possibility, but if price action downward is too strong we might beak down to a double bottom. I really don't think we will double bottom, but dropping down to 75 cents is a possibility. Seeing though we are wick touching the upard resistance price does not seem strong enough to punch upward. MACD looks like is still has a little bullish pressure room to push. DMI is looking potentialial bullish with an upcoming DI crossover. However, slowstoch is indicating we need atleast some down ward price action even before a upcoming breakout. If this Bullish breakout is coming, it had better be on the next push toward the resistance line or I think we are in a short term pull back.