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JC Parets

Mystery Chart 05-08-2019

May 8, 2019

From the desk of Tom Bruni @BruniCharting

New Mystery Chart!

For those new to the exercise, we take a chart of interest and eliminate the x and y-axes and and all labels eliminated to minimize bias. The chart can be any security in any asset class on any timeframe on an absolute or relative basis. It can even be inverted or a custom index.

The point here is to not guess what it is, but instead to think about what you would do right now. Buy, Sell, or Do Nothing?

This looks like a breakout occurring within the context of a largely rangebound market. As long as prices are above this level of support / resistance, I think the bias is to the upside and I'd be a buyer, not a seller.

Click on chart to enlarge view.

Let me know what you'd do here.

Tweet me @BruniCharting or email [email protected] and check back in Thursday to find out why this chart is relevant.

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