approaching strong resistance
what i have displayed is the weekly chart.
if we draw the gann fans at 2008 bottom.... per rules .... chart has to be 1x1. meaning 1 point = 1 week. we arrive with the 1x2 line right above.
lets do some simple math to give us an exact number
1x2 means : 1 point every 2 weeks, or 50 cents a week.
going back to 2008. there have been 615 weeks.
615 / 2 = 307.5
307.5 plus 67.1 low = 374.6
watch 374.6 as a huge resistance level.
also.... make a note that going forward that line is going to be 50 cents higher....
i dont see a major top happening till mid may 2021, however before that there should be a nice sized correction at the end of dec or start of jan.
if we draw the gann fans at 2008 bottom.... per rules .... chart has to be 1x1. meaning 1 point = 1 week. we arrive with the 1x2 line right above.
lets do some simple math to give us an exact number
1x2 means : 1 point every 2 weeks, or 50 cents a week.
going back to 2008. there have been 615 weeks.
615 / 2 = 307.5
307.5 plus 67.1 low = 374.6
watch 374.6 as a huge resistance level.
also.... make a note that going forward that line is going to be 50 cents higher....
i dont see a major top happening till mid may 2021, however before that there should be a nice sized correction at the end of dec or start of jan.
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