@funkman thought would reply to you here keep a chart thread going
yeah fair enough pretty filthy candle today but put in context we're still above resistance
there was also something close to a bearish engulfing on 14/01 when we got hit back down to 016; then consolidated above there until next leg up. note that it always closed at 017 or above, the mid-point of the breakout candle 015-019 on 04/01
today held the mid-point of the last breakout candle 019-023
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going out to a monthly chart i can't see much in the way of getting to historical highs at 040. admittedly volume has dropped with each of the last few months on the way up - i don't know how to tell if this is a weakening trend or that supply is just lower at each level of resistance going up. let's run with #2 lol. that curve looks hot anyways
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so i'd love to see volume back off a bit and to consolidate anywhere above 020. prob needs a breather considering STILL no material news. i swore we wouldn't break 014 without news; then i would've bet my gf's boobs we wouldn't break 020 without news... now i'm pretty sure we need news to crack 025 convincingly but...
anyways broader market is cactus and almost all specs i've watched trying to break out getting smacked back down from the breakout point. no exception here with 025, but we're above the last resistance and have the advantage of macro exposure to the world's fastest growing economy. i've sold off everything else but too curious to see what Gary has cooking
seen ya round the threads a bit funkman you post well. keen to hear your thoughts 'coz i'm biased as a long-termer. guess we won't know if that's a real bearish engulfing until it gets confirmed/denied tomorrow but i'm hoping for a chill out consolidation around here
sorry long post
@TonyIndo keep the info coming on the other threads, thanks as always
