Fuchsia Means Buy!
Not this simple on a daily basis, but you get the picture.
Move down still possible given that it hasn't seen the low made on Friday in a month and a half, give or take a few days. Some panic selling could attribute for the large move down. Technically, it's a perfect move down to complete and start a new cycle.
Leg down off of back-end (not contract) of the prior move up approximate to a month, so I'd expect his leg down to be completed.
Move past 75.25 is possible, but would need risk premium to be in price (or stay in price, if you already believe it is)
On the bear end, 63.25 is still possible, but I wouldn't hold my breath.
Not this simple on a daily basis, but you get the picture.
Move down still possible given that it hasn't seen the low made on Friday in a month and a half, give or take a few days. Some panic selling could attribute for the large move down. Technically, it's a perfect move down to complete and start a new cycle.
Leg down off of back-end (not contract) of the prior move up approximate to a month, so I'd expect his leg down to be completed.
Move past 75.25 is possible, but would need risk premium to be in price (or stay in price, if you already believe it is)
On the bear end, 63.25 is still possible, but I wouldn't hold my breath.