Further Drop before Rebound?
I have drawn in the fib retracements based on the previous run, and we're hovering around fib68.1. I'm 50/50 on whether this, and the psychological $2.50 CDN support will hold. If it fails, we may see return to the previous support and low of around $2.15 CDN.
My reasoning is:
The red area denotes the potential drop.
My reasoning is:
- Bear volume increased yesterday (18-Apr)
- RSI is at midpoint - could swing either way
- Stochastic oscillator %K is still well below %D - this has been quite reliable over recent months
The red area denotes the potential drop.
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