the technical comment from 4 days ago, might be worth re-reading
key points. watch the support and resistance levels The other day it was resistance at 14.
Today it is resistance at 12.
The 200 ma is comng into view, beckoning.....at 10 area. but before that are the cute flirtations that would be closer to 11, around 10.80/10.70 , IF this 11.20-11.50 pivot low zone fails to hold. just as he latest lows at 11.52 failed to hold today.
now its 11.39, but below this is 11.20 ,like a magnet.
Those trader types who caught and bought these bottoms in January, would likely have set stop loss around 11-11.15,maybe, and these stops can get 'run' through, as soon as 11.20 gets taken out.
When I see the top zone at 19.11, and the next highest top at 18.82, it makes me visualize a low target around 10.82. or even 9.82
and in the middle of these extremes, would become 14.82
and 14.32, also key S/R points.
Its an exercise in trying to see some balance points in the price action.
Notice also how those '00' price points are like magnets.
Maybe the next one will be 11 ...and 10.82 will be a cute falling knife to catch.... I don't want to guess too much here, just something to have my eye on as targets.
Last year, September thru October, that severe pullback is instructive now. The current pullback has many similarities to look at.
I wont site them all. but notice how price action played around the 100 ma, at a key support zone, and from That support base, around the 100 ma....Plunged another drop lower...beyond expectation....in mid-November, In that pullback, where the left shoulder zone around 6.00-7.50 was the expected support zone to hold..... 6.50 area was a good target zone , the 100 ma was there, 6 dollar magnet was a low bottom.to expect. From the Top a month earlier, that was 12.75 , cutting that in half, a big pull back, would target 6.40 area, those were good targets back then,......BUT price collapsed way down to 5.35, a severe sell off. to the 200 ma.
Very Similar is the same set up happening now. see it on the chart.
