Mystery Chart 10-29-2019

JC Parets
October 29, 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?

To me, this looks like prices failing at resistance once again and beginning to roll over through support. Whether prices accelerate lower from here or not remains to be seen, but what's clear to me is that a neutral to bearish approach toward this chart is best as long as prices are below resistance.

Click on chart to enlarge view.

I'm a seller, but 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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