Credit Suisse Price Channel Pain
I don't love the idea of making grandiose predictions; I prefer to see everything in ranges of probability.
That being said, the few simple tools I have added to this chart seem to have rather negative implications.
There may be other price levels that are noteworthy, but I see the psychological levels of $10 and $3 having importance here.
$6.50 as a previous ATL.
$2 Psychological Support Level currently bearing the brunt of the weight.
The wick of the current candle falls below to the current ATL of $1.76.
I have marked a vague price channel towards the end.
End result is a possible price channel to $0.
To me, this doesn't look great.
Take everything anyone says with a grain of salt.
DYOR/DYOC.
Commentary welcome; I don't mind being wrong, especially in this case.
That being said, the few simple tools I have added to this chart seem to have rather negative implications.
There may be other price levels that are noteworthy, but I see the psychological levels of $10 and $3 having importance here.
$6.50 as a previous ATL.
$2 Psychological Support Level currently bearing the brunt of the weight.
The wick of the current candle falls below to the current ATL of $1.76.
I have marked a vague price channel towards the end.
End result is a possible price channel to $0.
To me, this doesn't look great.
Take everything anyone says with a grain of salt.
DYOR/DYOC.
Commentary welcome; I don't mind being wrong, especially in this case.
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