near targets and price resistance.
ER2 charts
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RuGO wrote:We're on the virge of a drop... or are we?
we certainly dropped from 809.....the bulls just couldn't hold off the selling, there has been no reason to go long since the open. rising channel breakdown in play, minimum measurment is 798....if 798 fails and gets used for resistance, then we go lower to the flag measurment @ 792.
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humble1 wrote:price kept dropping thru the blue p-line on the chart above = sell rallies. also, the rallies couldn't put in 3 bars above the each new low all the way down until 798 was hit, then there was a burst up, slight pull back for the low failure, and the minor bottom @ 14;14 was confirmed.
Nice rebound toward the closing, however to me this still has the feel of a further downward swing even though the daily candle seems to indicate otherwise.
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