A bearish triangle appearing with the 38% fibonacci retracement, which should have some good support. However, if this breaks downwards, we could see prices move to $6.50, and maybe even $5.00. I'm expecting price to consolodate around the 38% line where it currently is, but wanted to show some resistance levels in case any were wondering.
A third uncharted option, is that a head and shoulders pattern occurs, and we see a steep drop in price to around $3-4.00. The price currently would produce the neckline.
Long term, OMG is a great project, it is still very bullish, and I expect it to keep climbing (long). Resistance lines will act as great buying opportunities.
In the very near future, it may take a little while to recover, so I expect some consolidation at this point.
What do you guys think?
A third uncharted option, is that a head and shoulders pattern occurs, and we see a steep drop in price to around $3-4.00. The price currently would produce the neckline.
Long term, OMG is a great project, it is still very bullish, and I expect it to keep climbing (long). Resistance lines will act as great buying opportunities.
In the very near future, it may take a little while to recover, so I expect some consolidation at this point.
What do you guys think?