We are in a yellow RM whose support is provided by the purple monthly level @592M ISK. Resistance, of course, is provided by the high swing of late October. Price will therefore do its stuff inside the RM and will have to break it before we know what’s its next target. In particular, we’d not be surprised at all seeing price return to re-test 600M BRN, because the more trained among you will certainly have spotted that double bottom-alike structure. And price loves to retest those structures. Actually, if it does that, price will get the needed liquidity fuel needed to try break the rectangle. If it does not, it will have more difficulty doing that, as buyers will get “tired” when they’ll meet the resistance.
You have experienced the power of trend lines. It’s funny because it’s lasting since years, every time price gets down to the trend line something happens so that price does not break through but is bounched back up.
I expected PLEX prices to go down around the end of Oct and they did. What surprised me is how quickly they rebounded again, especially with the Amazon pricing gaffe, the Somerblink cashout and a CCP PLEX sale all happening around the same time.
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