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<p>[QUOTE="Lucky Cuss, post: 1864745, member: 44086"]I guess since I started this, I ought to weigh in on how I see the current state of affairs. From a purely technical standpoint, the chart over the last 9 months or so looks like a bearish but ragged "head and shoulders" top, but this is following a long decline, so I don't think that's a very good indicator at this point. There does seem to be support above $19, but if it broke through that floor, I'd say it'll be a case of "look out below!" On the other hand, it seems to me like it'd have to jump decisively above $24 to sustain any upward momentum. The real question is what data tipping point or external geopolitical/economic event could nudge this market in one direction or the other, and whose crystal ball is clear enough to say what that might be?</p><p> </p><p>In short, I don't have a good sense on this right now, and can admit it.[/QUOTE]</p><p><br /></p>
[QUOTE="Lucky Cuss, post: 1864745, member: 44086"]I guess since I started this, I ought to weigh in on how I see the current state of affairs. From a purely technical standpoint, the chart over the last 9 months or so looks like a bearish but ragged "head and shoulders" top, but this is following a long decline, so I don't think that's a very good indicator at this point. There does seem to be support above $19, but if it broke through that floor, I'd say it'll be a case of "look out below!" On the other hand, it seems to me like it'd have to jump decisively above $24 to sustain any upward momentum. The real question is what data tipping point or external geopolitical/economic event could nudge this market in one direction or the other, and whose crystal ball is clear enough to say what that might be? In short, I don't have a good sense on this right now, and can admit it.[/QUOTE]
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