For those of you that have been following my posts on Reddit please realize this is a totally different type of TA and is not as predictable as the short term trend analysis I've been posting. I picked several breakouts in a row this week and I don't want anyone thinking that every pick I make is correct. That's certainly not the case.
Verge has obviously entered into a correction. The question is how much does it correct. First of all, this correction could end at any time and resume an upward trend. But, if it plays out in typical correction fashion the next level of support will be at 1141. If it breaks through that level the next major support is 1044. I don't think it drops below 1044. If it does then we could see a major correction.
This correction could run through Thursday and begin another move up late Thursday into Friday.
If I see anything change I'll post an update.
Verge has obviously entered into a correction. The question is how much does it correct. First of all, this correction could end at any time and resume an upward trend. But, if it plays out in typical correction fashion the next level of support will be at 1141. If it breaks through that level the next major support is 1044. I don't think it drops below 1044. If it does then we could see a major correction.
This correction could run through Thursday and begin another move up late Thursday into Friday.
If I see anything change I'll post an update.