I know it isn't about what I want to see, however I mentioned the possibility of the gap closing numerous times and also the BUEC before. Now if I could make a wish within my analysis I would like to see another gap down tomorrow morning to say $1.71 to check out any gap support and then if need be a drop to $1.66 - 1.65 in order to close the gap, which is IMCO the ultimate target anyway and then be done with it.
Onward and upwards from there, possibly with a positive announcement early next week!
1. closing the gap should be seen bullish
2. reaching BUEC is part of the Wyckoffian terminology and the CO would aim for that, but ultimately it is bullish
3. there is a bullish CS pattern (3 gaps down) which at a stretch could possibly be applied here
So the whole move down could be seen as necessary to form a corrective move representing wave 2 down and would land LTR in between Fib 50 and 61.8%, which is quite typical for wave 2 moves correcting wave 1.
Let's see how reality can adjust to my wish, shall we?
New TA/Charting, page-7776
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