Got rejected off a split channel early on last week .. Looks like a bear pennant is forming here now with pennant support at 260. there's also EMA100 support on the weekly at 263.
I wouldn't go long here unless it can break through that split channel, a break above that area and I'd be targeting 340 gap close.
Short entry below 260 and I'd target the 253 low; if that support doesn't hold we could be headed to wedge bottom around 200$
I wouldn't go long here unless it can break through that split channel, a break above that area and I'd be targeting 340 gap close.
Short entry below 260 and I'd target the 253 low; if that support doesn't hold we could be headed to wedge bottom around 200$
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