white lines - Minor channel
Yellow lines - Minor trendline
This is just an update to my previous post for my day trading followers😉.
Bounce off minor trendline 12/20 and finished last with a rally back up to channel top. Starting this week I think we pullback and test 172.29. From there , unless we close under that trendline we could bounce back and retest resistance. Since resistance is angled downward we will continue to see lower highs on the weekly candle stick.
If we do fall through ,172.29 , 169 support would be the last line before a double top that would take us to a channel support around 161..
This setup is negated if we close above 177
Let's see what happens
Yellow lines - Minor trendline
This is just an update to my previous post for my day trading followers😉.
Bounce off minor trendline 12/20 and finished last with a rally back up to channel top. Starting this week I think we pullback and test 172.29. From there , unless we close under that trendline we could bounce back and retest resistance. Since resistance is angled downward we will continue to see lower highs on the weekly candle stick.
If we do fall through ,172.29 , 169 support would be the last line before a double top that would take us to a channel support around 161..
This setup is negated if we close above 177
Let's see what happens
