Resistance in channel
Updated
SE broke above some resistance levels on the log scale; however, still resides within a longer parallel channel on a regular scale.
Expect a short term rejection at the upper channel at ~90, which coincides with resistance within a symmetric wedge on the log scale.
Longer term SE can go either way, but would be very bullish if either upper channel (regular & log) are broken.
Targeting another drop to 65-70 level in the short term, followed by a long term increase.
Expect a short term rejection at the upper channel at ~90, which coincides with resistance within a symmetric wedge on the log scale.
Longer term SE can go either way, but would be very bullish if either upper channel (regular & log) are broken.
Targeting another drop to 65-70 level in the short term, followed by a long term increase.
Comment
Nailed it. Multiple support levels broken. Still looking at $65 within the next few trading days.Disclaimer
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