Because of this dichotomy between the two hour and daily charts we can anticipate another small descent to the support line before it breaks out. This bounce comes on the heals of news that a tropical depression is developing in the Atlantic/Caribbean ("Bertha") and although it is early it may cause a rise in prices next week.
|Two hour chart: Six month view showing the origin of my lowermost resistance. Note that yesterday's data point touches the resistance line.|
|Daily chart: Showing the same six month period as above but no contact with lower resistance. After a small bounce it should descend back to make proper contact with the resistance line.|
Jakob Richardson © 2014