So what does the current price action look like to start the new week.
same as the last few weeks ? looking stifled as it tries to rally up, it peaked at 8.80 and was taken down to 8.10 and now it tries to bounce and so far gets stifled at 8.80. I want to see it test 9 and 9.50 and a decent rally tests 10.00-10.50 area. But a day like today that does the usual fake out to start, the pop and drop, and then goes down lower looking to retest the 8 dollar bottom zone. a 1 dollar move targets 7.80 area. I was looking for a rally week this week, to try and test 10 area, retest 9.80 area, but this 8.80 was a pretty strong resistance target zone on the chart Ive been drawing. so its not too surprising to see the capping here at 8.80. Now 8 dollars needs to hold again. or we'll be retesting the 7's. and another wasted week of wallowing can just roll along. The bounces from the bottoms, demonstrate a chance to become a decent rally wave that should test higher targets to complete the wave, but they fail on days like today. It failed at the 9.80 resistance a few weeks ago , and now fails at the 8.80 The pattern is still looking stifled in all the rally bounces. In the big chart pattern, the old support zone at 10 area and at 9 area is the target zone for resistance now, and coming from a 7 dollar bottom really should at least retest that 9 and 10 dollar zone. so this capping at 8.80 now is a disappointment to see. the bias is looking downward in that regard, in my view. BUT, any good news coming out this week ?? is there any ? would break us out of this bearish slide down .
