I thought I would provide a bit of my thoughts so far.
From a fibonacci perspective I think the key resistance is obviously 0.40 and the next target and resitance is 0.47.
From an elliot wave perspective I feel that we haven't completed our 5 wave impluse. I would expect this to occur next week and potentially touch the 0.47 mark.
I say this as the 3rd wave is the large upward bar- and we are currently consolidating in the 4th wave.
I will say again how impressed I was with the lack of Friday afternoon sell off- showing the strength in demand for this security.
From a purely technical perspective I would conclude that this run isn't yet finished and next week should see 0.47.
That is why I sold out today- but then bought back in prior to close.
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Price($) | Vol. | No. |
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