A bar pattern of the Jan-May higher high's has been taken and over-layed the current structure. The DMA's are the Pi-Cycle top model (top is a moving avg of 350*2, bottom is a 111 day MA) have served as critical lines of resistance and support.
What am I watching?
- First, the bar pattern is clearly similar, however, less explosive. (Less buying power and investor impetus). - In order to stage a leg to the downside, we must complete the LH from a top and break the 111DMA. - Trend Line has to be broken. - Lastly, strong sell volume can be appreciated during a top, followed by weak buying volume the following top.
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