regn...
this pivot is not clearly defined,,,typically we want to see more congestion, the battle between the bull/bear somehwat more fierce...
I snapped a line underneath the two bars from 3 and4 trading days ago and coincided with peaks form days past...
regn is coming off highs, pulling back,,,,this area normally good for a bounce (dryr)....we've seen a pullback, minor at that and has held, that's good, so this makes it a candidatae for potential bounce...
if it fails, I tend to look for the 50 ema, and more often than not the bounce will occur.
there are som many ways to read the pullbacks (sym triangle, pennant)...I remain with support resistance as this tends to be the most effective and efficient means although certain formations are nice to see for confidence. |
