Thursday, February 04, 2021 10:47:37 AM
The ascending line on the left defines the Fibonacci levels (horizontal lines), and the descending line on the right is functioning as resistance. Notice how in September 2020 the 23% Fib level and the descending line worked together to form a super-strong resistance level.
When extrapolated out into the future, the descending side of the triangle pinches out in July 2021....so IMO that would be the latest we should see breakout...knowing full well that news could blow us out of the triangle at any moment.
Also note how important the 50 week moving average (blue curve) is to the price. Over the 5 yrs in the chart, the 50 week has changed from support to resistance, and now back to support.
Mind the wedge people.
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