Month’s Theme: Revisiting a crest in the midst of erratic behavior back and forth through the same price level. That’s crossed with a brief peak that’s easily missed and a decline through key support.
Behavior Around the High: A notable rally into the high standing out on a one month scale.
Behavior Around the Low: Near oversold territory and a big move higher out of it.
Overview
On the 1st, there’s a failed attempt to break through key resistance followed by a decline through key support. On the 2nd, there’s a prominent peak or crest that forms when we have a rally. On the 3rd, there’s a prominent trough that forms after three pokes through the same price level followed by a decline. On the 4th, there’s a big move higher toward the end of the day. We may have a decline between the 4th and 5th and a big move higher the morning of the 5th taking us to a resistance level. The high may be on the 5th/6th. On the 7th, there’s a prominent move to the upside in the morning and a U-shaped dip near the intersection of two perpendicular diagonal trend lines.
On the 8th, there’s a prominent crest and a speaker highlighted that can be trusted. On the 9th, there are price swings and we break through an important resistance level toward the end of the day. On the 10th, there’s a retracement back down into a trough toward the end of the day. On the 11th, we’ll rotate sideways and establish support. We’ll then have a move higher into a prominent peak or crest. On the 12th, there’s a prominent trough. On the 13th, there’s an important resistance level highlighted. On the 14th, there’s a sideways-fluctuating rally that precedes a decline. It’s also likely that we’ll revisit the highest high here.
On the 15th, there’s sideways fluidity with equal amounts of inflow and outflow. On the 16th, there’s an important support level highlighted and a lot of price change. We’ll probably rally out of the 16th into the 17th. We’ll move into a brief peak that’s easily missed and have a sharp decline through key support on a multi-day scale. On the 18th, there’s an unexpected move higher. There’s a big day into a peak or crest at the beginning of the day on the 19th. There’s a notable reversal and a big move to the downside taking us into what’s most likely a lowest low on the 20th. There’s a peak or crest on the cusp of the 21st/22nd and a failed attempt to break through key resistance and a decline through key support.
There’s sideways rotation into the 23rd that ends with a fast, sudden move higher taking us into a prominent crest or peak. There are multiple failed attempts to break through key resistance on the 24th. We may see the lowest low on the 25th and a prominent crest or peak toward the end of the day. On the cusp of the 25th/26th, we’ll sell off from that peak or crest pretty notably creating multiple new resistance levels on the way down. There’s a sharp drop on the cusp of the 26th/27th that takes us to another support level. We’ll rotate sideways along that support. There’s even more of a sharp drop on the 28th. We may bottom out around the 28th and we may revisit a crest on the cusp of the 28th/29th. We’ll rally out of a decline on the 29th and into the 30th. That rally ends with a fast, sudden move higher and then a breakdown through that diagonal trend line into the 31st.
Comments