Plenty of doomsayers around here, and I'm fully aware we're still in bear market territory – but we have been ranging pretty much flat sideways for months now, and there's still room for a minor bull push without robbing the bears of their eventual collapse into $120 territory. The local bull channel I'm watching above might easily break down, but really until we get below $207 DOOM is not assured. We could slump a little more here and still do nothing exciting, just slide sideways during these ranging spring/summer doldrums...
NOTE: I'm not trading any of this, so I'm perfectly happy to be the contrary voice of speculative scenarios, no matter how it turns out. Gets boring drawing charts when everyone is calling for the same thing :P
UPDATE -- target smacked. twice. just took a little longer than I charted :P
NOTE: I'm not trading any of this, so I'm perfectly happy to be the contrary voice of speculative scenarios, no matter how it turns out. Gets boring drawing charts when everyone is calling for the same thing :P
UPDATE -- target smacked. twice. just took a little longer than I charted :P