the weekly chart shows Head and Shoulder pattern with right shoulder completion if it fails to break resistance around 40-42k and moves lower. Breaking the support of the neckline confirms the pattern with a target of previous support/resistance level around 20k. Looking for a bounce off here and move higher on reversal to up over 100k-200k depending on the model and projection.
If it holds support at 20K and reverses Im all in long, $0 or >$1 million.
thoughts?
If it holds support at 20K and reverses Im all in long, $0 or >$1 million.
thoughts?
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