I bailed out @ $2.97 per in the backlink with the model shown below:
Since then we got a clear break down of that rising wedge. At this point there is little way to know if that wedge will be counted by the herd as a leading diagonal or a WC retracement but with this kind of selling in play I would like to see it at least kiss the upper rail of the larger wedge from above to see if it offers the support modeled above.
Monday, November 9, 2015
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