Since June 2013 price has been trapped inside the grasp of the bear claws. The many attempts to escape from the bear claws has so far been unsuccessful. Immediate support is $2.73 and the immediate resistance is the triple blue mid band area. Any breakout above the blue mid band will be another flight for freedom from the bear claws. The upper red resistance band has remain intact since June 2013 and awaits another challenge.
If there is a pullback below the mid blue band a retest of the $2.73 support is highly probable. Support failure of $2.73 will result in the imminent test of the lower red support band of the bear claws formation.
Posts
No comments:
Post a Comment