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Saturday, June 09, 2018 8:36:18 AM
Looking at both runs there are actually patterns within each cup. Those patterns are head and shoulder bottom reversals.
Notice how on the first one the PPS gaps through the shoulder line and makes a big move up from there. That gap gets completely ignored until long after the run has completed. Notice how on the first run the shoulder line is slanted downwards.
Notice on the second run the shoulder line is slanted upwards. That shows the strength of whats to come. Notice how the PPS gaps resistance around .2389. Yes there is a .003 gap there but IMO the gap will again be ignored and when this run is over that is where it will come back down to just like the first runs gap did. IMO both gaps on the runs are there to show where the price will fall to once the runs are over.
RSI on the two previous moves hit 82 and 87 respectively yet you continue to say it's over heating at 72. Complete nonsense.
This is just getting started and you know it as well as I do if you can read a chart. Looking at this chart it looks like the major resistance to be broken, .2839, has already been broken. In fact it gapped that resistance which is very bullish.
IMO this will break .42 once the new handle is fully formed. Every technical indicator is bullish.
RSI in the power zone above 70 and can go much higher.
20ma and 50ma have just recently crossed the 200ma.
All three moving averages on there way up in a perfect alignment.
MACD on it's way up and can go much higher as you can clearly see.
Volume still strong even for a Friday and on a consolidation day.
Just look at the accumulation. Yikes!
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