Long term charts leave little doubt about the importance of the current levels:
JI
jimkane
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Posts: 33,089
Yes, this should not hang around here very long or it will make me very nervous, it should flush quickly.
ER
EricD
Rep: 63
Posts: 692
it feels to me they wnat ot break tha 85 swing on the 15..and set some traps..
JI
jimkane
Rep: 3,058
Posts: 33,089
But around say 82.50, if that doesn't end this, it may trend until close. I don't see that, but the critical area if from about that 82.50 to here at 84.50. Now we see. My guess is up like a scalded cat, the way these rampers like to act.
JI
jimkane
Rep: 3,058
Posts: 33,089
Well, the 1.618 off that last swing, with the 3D breakdown and then backtest and pop back up would 'normally' tell me they are going to rush it up. But there is so much chop in here trying to read the little moves here is a fool's game. So, at best I can look at the 'context' and areas, and just make a decision and let it play out. I usually see this kind of hyperfluctuating when something is about to happen.

