Bulls are still hanging on with a chance of changing the weekly trend. Price does look exhausted and a seasonal cycle low in August is very possible.
Green line is based on brief consolidation and continuation. Price target is $2.15
Orange candles is the June price action.
Red is a steady grind lower over the next 3-4 weeks.
Both the orange and red have price target of $1.50 down to $1.30 as discussed back in June. Would be possible that price doesn't get this low before September expires and with current spread may never.
Green line is based on brief consolidation and continuation. Price target is $2.15
Orange candles is the June price action.
Red is a steady grind lower over the next 3-4 weeks.
Both the orange and red have price target of $1.50 down to $1.30 as discussed back in June. Would be possible that price doesn't get this low before September expires and with current spread may never.
