As you can see from this weekly chart $TRX is at a price point where there is a confluence of resistances....61.8% Fibonancci retracement from $7.82 high to $1.56 low and if you look closely at chart you can see TRX really fell apart at the $5.43 level last year. We tried to pierce it early this spring but failed. Now we are making a cup and handle formation which is extremely bullish and should allow us to get through this area by the end of October.
Still think we need to work off some overbought levels on Stochastics though MACD levels are improving. I do believe even if the market sells off that Gold and Silver and the miners will be a safe haven in the era of coordinated world wide money printing. Best of luck to you all! Lotion Boy!
No comments:
Post a Comment