Price is in a strong downtrend.
Momentum is pulling it down.
However, the tail wick of this the Months
candlestick has pulled back up to the support line.
This could mean we have found a support in this
price range. Look for the channel to break and
possible sideways action for the big boys to
accumulate shares. May rise slightly or fall
slightly, but generally, sideways action; unless
price pulls up. I see the 47 area as a good possible bounce area, but if fails then the 43 area is a good area of solid support.
Momentum is pulling it down.
However, the tail wick of this the Months
candlestick has pulled back up to the support line.
This could mean we have found a support in this
price range. Look for the channel to break and
possible sideways action for the big boys to
accumulate shares. May rise slightly or fall
slightly, but generally, sideways action; unless
price pulls up. I see the 47 area as a good possible bounce area, but if fails then the 43 area is a good area of solid support.