Prices appear poised to break below the several-times-tested base of what looks like a descending triangle. This is a continuation pattern in a downtrend. The breakdown level is at $3.09, and a break would indicate a target of $2.88.
Medium-term indicators remain weak, with quarterly momentum stuck in negative territory and breaking below a several-times-tested support. Short-term stochastics is at the low end of its range, and that could trigger a temporary bounce. In this event, prices would be unlikely to move much beyond $3.10.
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