The middle of the double bottom, the neckline, is huge, no doubt about it. That's the 61.8% failure level of the daily halfway back short from highs that was originally sold into. Now the 50% is being respected on this rally off the second of the possible double bottom. Volume is lackluster at best on the buy side, and the 20 DMA, right there at the 50% is still holding strong. I'm not too awfully encouraged about strong upside from here just now, but, as I always say, anything is possible.
You are viewing a single comment's thread from: