Price has contracted sideways since mid Dec and has formed a Triangle pattern.
Currently it is trading below the Weekly pivot point and intraday is seeking
support by the Daily pivot point at 252.50. Trend is neutral and price may continue
oscillate between the triangle sides until it finds momentum to break out of it.
The Yearly pivot point at 210.50 is still untraded and should give support if
price spikes lower. Bulls would like to see a close above the upper triangle and the
305.50 top to regain hope of a new run higher.
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If you want to support this channel check out the
profile page at the top for details. Thanks.
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Currently it is trading below the Weekly pivot point and intraday is seeking
support by the Daily pivot point at 252.50. Trend is neutral and price may continue
oscillate between the triangle sides until it finds momentum to break out of it.
The Yearly pivot point at 210.50 is still untraded and should give support if
price spikes lower. Bulls would like to see a close above the upper triangle and the
305.50 top to regain hope of a new run higher.
******
If you want to support this channel check out the
profile page at the top for details. Thanks.
******