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Helluva Good Top Pattern 9/13/21

This is a syndicated repost published with the permission of Stool Pigeons Wire at Capitalstool.com. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

From the 2 hour bar perspective, Friday’s breakdown completed a helluva top pattern. Now, at 5:30 AM NY time, they’re fighting their way back. Here’s the 2 hour bar look.

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They’re attacking resistance at 4489. If they get through that, the next target would be the resistance line at 4489. If they roll over instead, I think we’d be looking at 4450.

Here’s the hourly bars. 5 day cycle up phase seems to be starting. Doesn’t rule out a test of the low or a minor new low, but odds favor some sideways or upward slop chop, rather than an extended breakdown in the short run.

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This is a syndicated post, which originally appeared at Stool Pigeons Wire at Capitalstool.comView original post.

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