Not much to look at except for the downward channel in red
1) This news contributed to the sell-down www.bloomberg.com 2) I said previously to trade in the direction of the breakout in prices 3) Do not long until a bottom pattern has been reached, which could be as low as $13.60
1) Similar pattern to the downtrend channel that happened from mid-June to end-June 2) Buy when support line of about $20.50 is reached, or when prices break out of the downtrend channel. 3) Sell if Major Support line of $20.00 is breached to the downside
- Buy signal at $21.00 has been triggered as shown by the red circle
1) The gap up from $20.25 to $20.68 needs to be closed 2) Currently there is some strong support at $20.65 area 3) Trade accordingly to the current downtrend channel 4) Sell if it breaches $20.00 5) Buy if it breaks out of the downtrend channel to the upside
1) Price has crept back up into the Ascending Triangle 2) $20.00 still a major resistance as this has been an area of strong resistance/support dating back 5 years 3) Note the divergence on the MACD 4) Ascending triangles mainly resolve to the upside, but we shall see.
Looks like a break of an ascending triangle, even though ascending triangles mostly resolve to the upside.