In the spirit of exploring ideas for the new year I took a look at the NUH chart for areas of support and resistance.
Things could get ugly if the descending wedge breaks down. Needs to hold S at 5.4c.
But the SP also could be rattling around the bottom now, so it might pay to start watching at this level for signs of recovery.
A turnaround should find next R at 6.1c (this was former S on double bottom in May/June)
=> watch for higher lows and an ascending triangle to form up against 6.1c (top of indicated range).
=> potential for a spring to drop SP below 5.4c to test supply at current levels before moving up. Watch for a hammer.
