Take note of all comments and disclaimer on the chart. Will provide comment updates as conditions and price action changes.
Constructive comments only. EES
Constructive comments only. EES
Commentaire:
Tech. Analysis as I see price action right now (1-2-23 @ 12:08p)
As IS ...
- we have a fib retrace of 61.8% (.3377) from the recent high
- prior; we also had a fib extension of 78.6% (1.57) from the recent low
- both of the prior statements would USUALLY indicate a massive Cyper pattern with a fib extension of 1.618% to the upside $10-20 range
BUT
we have the following working against any upside potential
1. price has breached major trendline #1 (to downside) from 2014
2. price has breached major trendline #2 as well
3. price action indicates a H&S with downside target of $0.22ish range
Watch for Next Steps
- more UPSIDE IF: Price continues to find support above $0.3377 and moves above $0.357 negating the H&S Pattern
- more DOWNSIDE IF: Price continues to find resistance at $0.3377 and moves lower confirming the H&S Pattern
Constructive comments welcome.
As IS ...
- we have a fib retrace of 61.8% (.3377) from the recent high
- prior; we also had a fib extension of 78.6% (1.57) from the recent low
- both of the prior statements would USUALLY indicate a massive Cyper pattern with a fib extension of 1.618% to the upside $10-20 range
BUT
we have the following working against any upside potential
1. price has breached major trendline #1 (to downside) from 2014
2. price has breached major trendline #2 as well
3. price action indicates a H&S with downside target of $0.22ish range
Watch for Next Steps
- more UPSIDE IF: Price continues to find support above $0.3377 and moves above $0.357 negating the H&S Pattern
- more DOWNSIDE IF: Price continues to find resistance at $0.3377 and moves lower confirming the H&S Pattern
Constructive comments welcome.
Am expecting the Head & Shoulders to complete at the $0.20 range
Trade safe.