$TAL As expected, we tested that Resistance 1 hard today. Price action respected this resistance and it was negotiating just below it all day. This can go both ways right now, either it goes back down towards Support 1 or it keep going up and test Resistance 2 tomorrow. I am leaning towards the $5 retest tomorrow. IF we can close above $4.79 fundamentally it will boost the bullish sentiment for next week. However, if we fail to even go over $4.79 tomorrow, chances are good that we are dropping back down towards Support 1 (~$4.30) My money is on a retest of $5. Depends on if there are any development news over the weekend, this is likely to continue to run up.
4
4 Likes