After breaking the fib I expected that would hold, I re-analysed...

After breaking the fib I expected that would hold, I re-analysed the chart. Although the channels are not clear at all (the 'angle' of the main black channel is determined by two relatively recent highs), I think there is enough indication to suggest the downturn may be near the end. Personally, I think the pullback on Fri afternoon may have been the trigger, but if Monday disappoints than note that Monday is the 19th bar (see blue lines) since the last maximum within a little 'ascending rectangle' (black lines). To make a long story short: I think that a lot of things come together at the $1 mark and expect the price to not fall below that. If I am wrong again, I won't touch MCR again - promise...





Cheers
Hans