ETC Looking like its making a strong retest with decent volume. Three possible options I'm seeing here, it either pushes for a decisive new high on this volume and forms an upward trending wedge (not pictured), it bounces off this retest and forms a third point on the lower trend line and forms a bullish triangle, or thirdly, it bounces off the upper trend line and forms a double top. First level of support is the orange horizontal line in the low 20's if the third option occurs. We will be able to tell what happens between options two and three by watching the volume when it comes down to the trend line.
If we get decisive volume and asks being hit aggressively then i believe this will be a strong buy signal. If volume waivers and we go sideways, I stay away until we can tell if this is going to be a full retracement from the double top.
If we get decisive volume and asks being hit aggressively then i believe this will be a strong buy signal. If volume waivers and we go sideways, I stay away until we can tell if this is going to be a full retracement from the double top.