Mystery Chart 09-17-2019
September 17, 2019
To me, this looks like a classic case of polarity at work. Former resistance turned into support once again and now prices are breaking out decisively above the downtrend line from their former highs.
Click on chart to enlarge view.
I don't love using trendline support/resistance for risk management levels, so I'd be erring on the long side of this chart as low as prices are above their post-failed breakdown lows.
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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