Prices are set to open around the $19.00 level. What happens after the open is important. If prices blast through and remain above the $19.23 high, then I will look for a potential top between $19.50 – $20.00. Closing above $20.00 in the coming days would sponsor a rebound to the 200-day MA.
If today is another trader trap, then we will probably see prices fade after a strong open. Closing significantly below today’s open would setup a potential breakdown below $18.14 next week.
