Traded into free fall today back testing rather quickly the zone I highlighted last night as a possibility. Circa 7.8. Was expecting a more gradual turn. Could set the tone for further downward pressure IMO….5.9 could be the next test and would complete a head and shoulders pattern (although a weak formation) on the monthly. If this happens could trade sideways for a touch thereafter consolidating new support levels.
The big disruptor - any type of positive news flow. Without it, I anticipate the chart playing out as per below. Hope to be wrong and just my opinion.
DTR Price at posting:
7.9¢ Sentiment: None Disclosure: Not Held
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