Volatility hell broke loose yesterday evening with prices making wild swings. The pitchfork setup from the previous update proved valid as it signaled an 80-bucks sell-off. Still, the main bullish trend remains intact as seen in this daily chart: The market is trending in Wave 3 -- usually the strongest wave in the cycle. My view is that the price could make a new high before completing Wave 3. Pay attention to this Pitchfork, which is our main channel for the Daily chart. The intraday chart contains detailed short-term price levels and waves.
Komen
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The last dip was bought, and the price returned to the support/resistance area. New highs still possible. The bad thing for buyers would be a 15-min candle close below $1533 (within the pitchfork channel).
bro nice graph , been following at secounds and it saved me some moeny... i saw it went under support line and i sold ASAP. and it went down hardcore imo... nice work keep it up .
Nickonomics
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@yup_marius, you're welcome, bro. The price tends to hover near these important areas. Watch out - new highs are still possible.
yup_marius
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@Nickonomics, already re-bought on that dump when i saw its correcting itself... hope it goes high now and doesn't go back down