We hit a double top at 1850. I don't think the bull market will continue until we break through. Meanwhile we could see a retracement to 1770 based on a 4% pullback from the top. If all hell breaks loose and we get a major correction it's going to 1700 or lower.
Now that the breakout above 14 has failed, we're coming back to the other trend line for support. Thanks all you weak hands who sold into the upside... you know who you are! j/k
Question is: how far can she rally? There is a lot of overhead supply from people who bought above 28... hopefully they don't come in as sellers upon breakout.
This one broke down its support at 3.55 on some heavy selling volume. It is testing the 3.47 support level. We may be seeing a reversal here. May be a good short if it breaks 3.47?
(Chart looks more readable if you're using data from all exchanges, not just BATS)
