LUNA CLASSIC LUNC : Small Bounce .00032 Complete, Down From Here
LUNA has completed the measured move of the W chart formation I showed in the previous chart. It was just a little rally, nothing too serious. Resistance still not broken and still lower highs. Its breaking down from this pennant, and ironically this pennant has yet another head and shoulders. That measured move would bring Luna back down to .000285, and probably further down back down to .00026 ish level. The Daily MACD is still straight down so these little rallies are nothing to get wet over. I still believe that if we break the neckline of the giant head and shoulders on the 4 hour and close below it then we are going to see a drop down to .00015. I we can break above resistance at .00035 then we will see a nice rally to just below all time highs and if we can sustain that then new highs but thats not likely at this time. This is just my opinion not financial advice. Follow me for more updates. Thank you
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