Another closer look at the uptrend suggests to me that once 6.20 is taken out, the uptrend is over, so if it bottoms it needs to do it here or thereabouts intraday.
Thats just my opinion drawing parallel trend lines from around 4.70 the day b4 the low of around 4.40 in feb to the next retracement in late april, to the next point around 6.50
Then if we draw a trend line EXACTLY parallel to this trend line from the 4.40 low, you can see that the uptrend will still subsist max till 6.20 or thereabouts give or take
So we must be round the bottom if the overall uptrend is to subsist. Intraday we can go lower , but we must get back up above 6.20 level very quicky withing the next cpla sessions
I hope tomorrow we can blowoff down to low $6 or $6.10-6.15 area where there have been a few closes in the past and then take off above the 6.20-6.38 area.
TOL Price at posting:
$6.20 Sentiment: LT Buy Disclosure: Held
