Quote:
Originally Posted by MC
My perspective. Obviously green drawings = bullish and red = bearish. There are many support levels below. The failed break on the head n' shoulders showed quite bullish sentiment. Bear wise, there is some nice resistance overhead. Both the channel and bigger triangle/spring have broke down. The channel even tested and was rejected at $110ish so that's a KEY level the bulls will have to fight.
Personally I'd like to see quite a bit of consolidation, which would build even more support up here for the bulls to spring off of. I don't see how jobless recovery is possible, but I'll trade what I see and not what I think.  |
Some of the best trade signals are busted setups. Going long on that failed H&S would have been too perfect.