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CaptainGrumpy

4,594 Posts.

177

14/09/17

21:46

Post #: 27230595
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Originally posted by Wayward1 ↑

First up that's a lovely base on that. Whatever you decide on the short side you'll need to be aware that there will be a great deal of support from that. Yes there is a valid DT forming, however CD is taking a bit too long for my liking. Fib time completed a cycle around 3 weeks ago and it's current one is playing out bearish. The main extension targets from that base have completed minimising the argument for further upside in this degree. Volume has been picking up the highs nicely.

The negatives; that base, it won't give up easy.
Larger degree targets are above $20 (unlikely in this cycle)
There is some conventional support around current levels so perhaps search for a higher entry or a break below 11.86.

870 area and 710 area are critical levels.

Cheers

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Liking that BRG swing after today Wayward. Flagging nicely, tagged the 61.8 retrace of last leg up, and solid bounce. Be even better if can go out the top next few days.

Last edited by CaptainGrumpy: 14/09/17

XMD Value at posting: 6,161.9
1 Upvote

0 Great analysis

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