Description of Chart:
On the weekly chart we have now run into some major resistance at 170.41, we can see this with price bouncing along this level. I am expecting a pull below this level down to target 1 at 160.08. My second target is at 137.99. It could take a few months to get there however we are also seeing bearish divergence on the stochastic indicator. Target two also coincides with previous support found in the crash of August and January.
Website: www.lukelehepuu.com
Take a look at my website. If you ever have any questions about trading you can become a member to get access to the live trading room where we talk about trading 24 hours of the day, even the weekends (some of us just love trading that much).
On the weekly chart we have now run into some major resistance at 170.41, we can see this with price bouncing along this level. I am expecting a pull below this level down to target 1 at 160.08. My second target is at 137.99. It could take a few months to get there however we are also seeing bearish divergence on the stochastic indicator. Target two also coincides with previous support found in the crash of August and January.
Website: www.lukelehepuu.com
Take a look at my website. If you ever have any questions about trading you can become a member to get access to the live trading room where we talk about trading 24 hours of the day, even the weekends (some of us just love trading that much).