October 10, 2024
Last year, we identified a potential head and shoulders pattern on the weekly chart, which has since completed, indicating a continued downtrend. I discuss key levels of interest, including $43 as a critical support level—if prices break below that, I anticipate a move down to $30. As always, we must follow the trend and remain cautious, with the 50-week and 200-week moving averages pointing to bearish momentum.
