MCP Charts

The last update I did on MCP was Sept. 26th right as it was coming off a downside reversal.

In that post I listed the two most likely pullback areas to be $6.79 and $6.53, today we hit $6.46 and right at support which it has generally been respecting. I would recommend going back and reading the last update linked above as there's a lot of good general and specific information for MCP and general concepts.

Here are the charts now that MCP has pulled back to the area that was expected last week, but that's not what triggered this idea, it was the charts today.

 Daily Ascending Triangle base which has respected support and resistance fairly well, but this is also about our X-Over system which gave me the downside pullback targets which happened to be at support.

The intraday chart out of a bearish descending triangle.

The 3 min chart in a flat range that looks similar to a tweezer bottom reversal on the daily chart.

The 10 min chart is very clean, the trend very clear.

As is the 15 min chart.

I don't know if this will lead to a major base breakout, but it's worth trading in my opinion.