Monday, November 9, 2015

11/9/15 - AM Update

[7:00 AM] - Forgot to add that price is also at the lower end of the ascending channel (red) now as well. Keep an eye on this as well. The other fact is that the entire structure so far off the 11/3/15 high is one big overlapping corrective mess.

[6:52 AM] - As anticipated last week, 2080 was a logical spot to bounce, which is what occurred. However, I was eyeing a larger potential H/S so lets see if that is what is playing out.

So far price is still respecting the descending channel (yellow). The larger H/S target is approx 2040. The neckline is at 2080ish. We'll see.

6:52 AM - 60 Min

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