Post by theMist on Oct 25, 2018 6:50:54 GMT -5
Jim's video
Today we bid farewell to our 3055 target as we are very significantly under that extended neck line now and this is a pattern that has failed us.
Additionally, we closed lower than the 'meat' or center of gravity of the 5 month long area that created that target, so more downside is certainly a
clear possibility. This video really just sort of takes a rough stab at what is now a broken chart. There are a couple of things that might indicate some
support where we ended the day, but FOR SURE, we know where resistance is and we have known that for a while. We will eventually break out over
that line of resistance and when we do, the question will be - is this a rally for a new high... or is it just a pull back before a new leg down. Keep in mind,
our blue LONG term support line is still underneath us. I do not think we can say this bull market is done until that line breaks.
Today we bid farewell to our 3055 target as we are very significantly under that extended neck line now and this is a pattern that has failed us.
Additionally, we closed lower than the 'meat' or center of gravity of the 5 month long area that created that target, so more downside is certainly a
clear possibility. This video really just sort of takes a rough stab at what is now a broken chart. There are a couple of things that might indicate some
support where we ended the day, but FOR SURE, we know where resistance is and we have known that for a while. We will eventually break out over
that line of resistance and when we do, the question will be - is this a rally for a new high... or is it just a pull back before a new leg down. Keep in mind,
our blue LONG term support line is still underneath us. I do not think we can say this bull market is done until that line breaks.
