After it does this how high will it go, oh Swami predict.
Well that's the kicker, isn't it? Eventually it should go up to 'fair value' around $30-$50, but we're all familiar with that pipe dream.
iqc.com
There's definite resistance at $22. We've peaked there twice since the big drop in early Dec and fallen back both times.
There's resistance again at $24. This was a peak in late July, halfway point for a rise in late September, halfway point for a large candle in late Nov, and also for the drop in early Dec.
There's more resistance at $26-$27. This is the peak in late September, and support range through most of November.
After that, we have our ultimate high at $29 to worry about, and then we're in unknown territory.
On the downside, the support levels at $20 and $18 should be fairly strong. If we break $18 we'll probably see $16 again, then $14.
Hmm...Support and resistance every $2. I think I've hit all the bases, huh? No matter what, I can't be wrong!
I guess the moral is 'look for $2 movements before a reversal!'
Doug. |
