Sitting at the bottom of the long respected bottom support for it's current down trend channel after shedding $100 this month. Conditions are extremely oversold having reached a massive buy zone, which fills the long withstanding $280 gap from November, and also doubles as a retest of long term support (200MA).
The rebound from this area could easily take us to the top of the same channel around the $360 mark give or take, and bears would STILL be in control. Anything above that and we could see $400+ next month.
Easy swing play IMO for the next week or two - PTs are $345>$355>$365
The rebound from this area could easily take us to the top of the same channel around the $360 mark give or take, and bears would STILL be in control. Anything above that and we could see $400+ next month.
Easy swing play IMO for the next week or two - PTs are $345>$355>$365
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