Prices teeter on edge of support….

Posted on Oct 01, 2019 by in Letters

The rectangle that formed in August offered an obvious interpretation (uncertainty and contest) -- and the breakout in early September appeared a clear buying invitation. Now the breakout wave has turned down and prices are right on the edge of support.  Extensive penetration here would cancel the signal created by the breakout.  Remember the first rule of trends-- that the present trend tends to continue.

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