Yes KillaMarci, looks like a bearish pennant on clarkmoody. Most of the rocket fuel has been used up on the China news and there is not much supply over the weekend. Might retest $100.
I think we will retest $90 if we go under $105 (and i think we will).
I think $100 will not be breached but no bets. My reasoning:
79->119 first retracement 104.2
95->119 second retracement 103.7.
I am calling 50% probability that this will be the area of capitulation, and next we go up.
- 25% we go to the $95 area and then up.
- 25% we leave this behind right away since 105 mighty wall already took two assaults from above, and was not even close.
There is immense buying pressure.
Or.... you can shut the fck up already.
