$55 is the do or die point. Its the last stronghold of the bears. This will be the 4th Bull attempt to break
the stronghold. The previous 3 has failed in as many weeks.
Several things are on the side of the Bulls this time, prices are above the triple moving averages band for one.
Stochastics a reflection of the wave structure is looking bullish and gaining monentum.
Fast Stochs's Double bottom just at the 5o mark and pointing up !
The compact upward diverging Triangle of prices formed by the horizontal $55 and the apex of $50 on 22 August
indicates Pent Up Demand, energy coiled and waiting for release !
Its do or die. And if it dies at least we know it has given a good fight !
No consolation but no pain no gain, no guts no glory !
via StockCharts.com
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