Mystery Chart 08-27-2019

JC Parets
August 27, 2019

From the desk of Tom Bruni @BruniCharting

New Mystery Chart!

For those new to the exercise, we take a chart of interest and remove the x/y-axes and any other labels that would help identify it. The chart can be any security in any asset class on any timeframe on an absolute or relative basis. Maybe it's a custom index or inverted, who knows!

We do all this to put aside the biases we have associated with this specific security/the market and come to a conclusion based solely on price.

You can guess what it is if you must, but the real value comes from sharing what you would do right now. Buy, Sell, or Do Nothing?

This week's chart is pretty simple. To me it looks like a massive base that's attempting to resolve itself for the 6th time.

I think we can all agree on that assessment, but the real question that we'll each have a different answer to is: will it be successful this time?

Click on chart to enlarge view.

 

What do you think?

Tweet me @BruniCharting or email bruni@allstarcharts.com and check back in Thursday to find out why this chart is relevant.

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