Inflection Point

15 de fev. de 2018

After nice bounce off 6k lows, next serious resistance should be the weekly 20ma at approximately 10,100. Both the 3day and weekly stochRSI are beginning to round off their lows, especially the 3day which has already broken out above 20. I feel there is a lot of coiled momentum that built up during the consolidation range of 8k at the 200dma that is now beginning to break out. I expect the weekly 20 resistance to be brief and ultimately think we can get to the 50 fib of this move from peak to trough, at approximately 12,800.