This s a longer term trade and will require some patience, but I believe it has a lot of upside potential.
I believe this is going to form a large triangle base. Today's move outside of the triangle will most likely be revealed as a false breakout and trade should continue to consolidate inside the triangle trendlines drawn. It's not a trade ready right now, but one worth keeping on your watchlist as the probable upside will likely be around $9+ from the area in which I think a long trade will be possible, making it potentially a 20+% move on the first leg up. I'd set some price alerts.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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