I meant to post this the other day but never got round but expected sideways motion to last until the weekend.
If we look at the past two pumps they all follow similar 'paths. When you map arcs onto these it forms a kind of "Speed bump" (sorry couldn't think of a better name!)
The initial pump followed by a dump which has created a support level then a sideways motion above the pumps support line. The next similarity is that when there is a dump past the initial support line this triggers a dump down to the next leg.
I will be going short with a belief we will see support at $400 and may reach $350. I would be going long at $350 if we make it that low.
If we look at the past two pumps they all follow similar 'paths. When you map arcs onto these it forms a kind of "Speed bump" (sorry couldn't think of a better name!)
The initial pump followed by a dump which has created a support level then a sideways motion above the pumps support line. The next similarity is that when there is a dump past the initial support line this triggers a dump down to the next leg.
I will be going short with a belief we will see support at $400 and may reach $350. I would be going long at $350 if we make it that low.
