Just broke out of the most recent continuation pattern (can seem my last update to the linked chart). Weekly candle should be real strong after that nice wick.
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Pretty nasty bear div here on the daily...could see $2400-$2500 before going higher:
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Looks like that drop to $2600 may have been all we needed before going higher. The daily is looking good, barring a big dump over the next day or two the weekly should close out strong. Upward and onwards to the target!
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Welp, looks like I was wrong about the $2600 low holding, and that nasty bearish divergence did play out.
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We reached the $2400-$2500 range as initially mentioned, and buyers stepped in. Not the most inspiring daily candle though, but that down up move to the target is still in play:
Should be interesting to see how we close out the rest of the week.
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Price tested the $2400-$2500 level (even briefly flashed into the 23xx's. Buyers stepped in and have gotten us above $2400, and we are now approaching $2500. If the price can get above and hold $2500 then we have a nice hidden bullish divergence on the daily chart with both RSI and MACD: If we can not take back $2500 then we are probably going lower to $2100-$2000 IMO.
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Price failed to hold 2500...fell pretty quickly $2120 as mentioned. Now what? Tough to say, at a pivotal point, might be time for a new chart.
I'm just meddling in the dark art of ALT-fibs. Picked the zero for its rock solid base (lasted 6 weeks or so) and then I went fishing ;)