Month’s Theme: An important resistance level highlighted on at least a one-month scale. That’s crossed with a sharp drop within a period of sideways rotation.
Behavior Around the High: Price swings, likely bullish.
Behavior Around the Low: Sideways rotation along key support and a sharp drop into the low.
Exclusive Trade Opportunities for Subscribers:
An opportunity to open a long position on the 6th at a trough toward the end of the day. I would close that the following morning at a peak or crest.
Open 50% of a long position on the 11th and the other 50% around the 16th/17th. You could close those on the 26th.
An opportunity to open a long position on the 17th and close it the following day.
Overview
On the 1st, we’ll have the establishment of support and then a big move higher. We’ll then have sideways rotation at a higher price level. On the 2nd, we’ll sell off pretty notably and create multiple new resistance levels on the way down. There’s a sideways fluctuating rally on the 3rd. That will take us to a peak around the 3rd/4th. On the 4th, there’s a U-shaped dip near the intersection of perpendicular diagonal trend lines. We’ll probably have a notable decline into a trough at the end of the day. On the 5th, there’s a big move to the upside on a one-month chart. This could be a highest high. On the 6th, there’s the halting of a bullish trend marked by a sharp decline into a trough toward the end of the day. On the 7th, there’s a big move to the upside that likely pushes the upper end of a range higher. There’s a brief peak that’s easily missed around the cusp of the 7th/8th.
There’s a decline through multiple support levels into a trough toward the end of the day on the 8th. On the 9th, there’s a near overbought peak or crest toward the end of the day. We’ll sell off from that peak or crest on the 10th. On the 10th, there’s a notable amount of sideways rotation starting midday after we decline. We’ll have sideways rotation into the 11th where we’ll most likely have a lowest low. On the 12th, there’s an important bottom/low. We’ll rally into a key resistance toward the end of the day on the 13th. We’ll then break down with consecutively lower spikes up on the way down into the 14th.
There’s a big move to the upside on the 15th after we establish support. We’ll have further decline on the 16th. On the 17th, we’ll likely have a move from the bottom of a range to the top of a range. On the 18th, there’s a lot of price change. On the 19th, we’ll have some sort of drop after a move higher that takes us to a prominent trough. We’ll move back into a peak or crest early in the day on the 20th. We may revisit a high. On the 21st, off of that peak or crest there’s a decline that increases with momentum as we move forward in the day.
There’s a fast, sudden move higher on the 22nd as well as a notable move to the downside. On the 23rd, we’ll have a breakout to the upside into a prominent peak or crest at the end of the day. On the 24th, there’s a sideways-fluctuating decline and an S-formation. That decline probably picks up speed on the 25th when we drop through multiple support levels. On the cusp of the 25th/26th there’s a trough that will stand out. On the 26th, there’s a rally out of that trough. On the 27th, there’s a lower trough in the morning and a significant move out of that trough. On the 28th, there’s a lot of bearish behavior. On the 29th, there’s a good probability of a highest high. There’s also an important support level that’s highlighted. On the 30th, there are three pokes through the same price level and a sharp drop after the third poke. That decline continues into the 31st. On the 31st, there’s a fast, sudden move higher marking the end of that decline.
Sneak Preview
A very notable move to the upside to reach for distant resistance.