Month’s Theme: A move to the upside crossed with a brief peak that’s easily missed and a decline through multiple support levels.
Behavior Around the High: A period of volatility that ends with a fast, sudden move higher.
Behavior Around the Low: A low on either side of a peak.
Overview
On the 1st, there’s a big move to the upside early in the day. On the 2nd, there’s a big move to the upside standing out on a multi-day scale. There’s possibly a trough on the cusp of the 2nd/3rd. There’s an important resistance level highlighted on the 3rd. On the 4th, there’s a failed attempt to break through key resistance followed by a decline through key support. On the 5th, we’ll decline to and through support to meet a second support and then we’ll rotate sideways along that support. We’ll move into a trough on the 6th where there’s an important technical price level highlighted. There’s a lot of price change on the 7th and an important support level highlighted at an important low. There’s also a prominent peak on the 7th.
On the 8th, we’ll have three pokes through the same price level followed by a decline into a trough at the end of the day. There’s a breakout on the 9th that pushes the upper end of a range higher on the 10th. There’s a reversal on the 11th taking us to a trough. There’s another lowest low on the 12th at a support level. On the 13th, there’s a move to the upside standing out on a multi-day scale reaching for distant resistance. There’s another decline on the 14th.
On the 15th, there’s an important resistance level highlighted. On the 16th, there’s a sharp drop that stands out within a period of sideways rotation. We’ll decline into the 17th and that decline ends with a fast, sudden move higher. On the 18th, a lot of ground should be covered and there’s a peak on the 18th/19th. We’ll then have a sharp drop off of that peak. There’s also a lot of price change on the 19th. On the 20th, we’ll have crisscrosses back and forth through the same price level confirming a bullish trend. We’ll attempt to establish support at a higher price level on the 21st.
There’s another rally along a diagonal trend line on the 22nd creating a prominent peak. On the 23rd, there’s a sideways-fluctuating decline. There’s an unexpected move higher out of a through on the 24th. On the 25th, there’s a pop and drop with another prominent peak or crest. On the 26th, there’s a trough that will stand out. On the 27th, we’ll revisit a crest that was recently a past opportunity. On the 28th, there’s a rally that ends with a fast, sudden move higher and then a breakdown through a diagonal trend line. On the 29th, we’ll be in near oversold territory and have a big move to the upside out of that oversold territory to reach another peak or crest midday. On the 30th, we’ll successfully turn resistance into new support. On the 31st, there’s a highest probable location of a highest high after a move to the upside.
Sneak Preview
A significant decline standing out on a one-year chart.