Sometimes a longer term view provides better perspective.
Revised E-Wave view on Day Timeline
Could bounce here at Fib .382, but RSI, MAC and Stoch all still point down and .618 fib is a common retrace = $128.05 bounce point
If we start up at 128, I'll go long for a short term (<2 week) trade.
Another possible scenario is the 137.97 mark is a double top and we drop. Breaking above $138 would be bullish. Breaking below 123 gets very bearish.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*
Revised E-Wave view on Day Timeline
Could bounce here at Fib .382, but RSI, MAC and Stoch all still point down and .618 fib is a common retrace = $128.05 bounce point
If we start up at 128, I'll go long for a short term (<2 week) trade.
Another possible scenario is the 137.97 mark is a double top and we drop. Breaking above $138 would be bullish. Breaking below 123 gets very bearish.
*NOT FINANCIAL ADVICE - NOT A FINANCIAL ADVISOR*