Post
Topic
Board Speculation
Re: rpietila Wall Observer - the Quality TA Thread ;)
by
zimmah
on 02/06/2014, 13:45:41 UTC
A small correction had to be. Actually I'm impressed that it only dropped to the first Fibo support level. It indeed looks like further
retracement will be met with fierce bullishness.
I think we'll hold that support at 620-630 and go sideways a bit, then the climb towards 700+ will be resumed.

Ye, I was a bit surprised when the price dropped all the way back to $620 in a couple of muinutes after reaching $680, I expected more like $660 or $640. But it's not unreasonable to stay at $620 for a few hours or even a day or two. But unless we will get stuck at $680 I would expect it to jump to $750 or so soon.