HOUSTON, WE MAY HAVE A DAILY CHART PROBLEM SHORT TERM HERE
VOLUME NOT ONLY HIGH BUT INCREASING!
Last RETEST of the $25 PTR went from 12/10 to 12/31. The low during that RETEST was $23.65 on the 28th on 587,000 shares. Should we close below that on higher volume; odds are we will close the open gap from November 12th (back to $23.56) and could go to MID-PTR ICE at the $22.50 area. MID-PTR ICE is very often a REVERSAL AREA FOR PRICE DIRECTION.
I f we were NOT to REVERSE at that $22.50 MID-PTR ICE; next SUPPORT would be the $20 PTR and THAT would put us right on the edge of the ABYSS.
I'm not scared or trying to scare you.
Just laying out the DAILY CHART TECHNICAL POSSIBILITIES AND SUPPORT AREAS for you.
Long TERM MONTHLY still looks fine (even down to the $19 area).
God bless ALL.....Bud Rolfs