Replies to post #3974 on 123Tom's TA study group

[123tom]

Just to be sure....about the 5.80 level





I describe the 5.80 as a balance line. it appears that way from a few technical things, the Fib retrace is one of the signs. its a little zone from 5.70-5.87,and in this box finds the balance line. it was as much 5.75 as 5.80 and also 5.85....so its centered around the 5.80.Thats what I was describing about 5.80. but the candle pattern, the triangle terminal here at 5.75 was set up for today to make this move. the question now, is will 5.80 hold support if we get a dip tomorrow or next week. will price bounce again and climb higher thru the 6 dollar resistance ,then 6.05/6.10, every 5 cent step is resistance, and the immediate targets are this 6.15/6.25/6.30

The 5.80 was not resistance for me today,I was not alluding to that. resistance starts around 5.93 in this intraday action.

so I wasn't sure what you were saying about 5.80. but in any case, we got a break to the upside this time,out from this little triangle,but that's happened several times in this cycle of 2 months, and its been hammered down after each rally bounce.

How mighty will this mouse bounce be this time.