Heres how we’re looking on the 10 day chart.
Sticking with my new theme that we are following an up trend defined by the March channel, I’ve drawn that line in again, (the top one). I’ve also drawn in a line which looks like support is being found at. As I’m back in bull mode, I’m hoping this line will be validated and we’ll stay above it. We’ll see what happens over the next couple of days.
Here’s how its looking on a 2 month log chart.
I have the March channel at the top again, under that is the line I drew on the 10 day chart, then at the bottom is another line where I’d be looking for support if the middle one doesn’t hold.
There is a worry that a dead cat bounce might be forming right now, something I’ve warned about a few times when I was in bear mode. Wether this support line holds or not might end up being quite critical in the battle between bulls and bears.