Posted 10/15/2020 13:00 (#8547206 - in reply to #8547157) Subject: RE: It's Thursday, October 15th, 2020
On the Dec. you could buy a pull back at 394. That is the location of the latest reaction line and the latest pivot channel line. You would put a stop below the line. It looks right now that it is heading to the 406 reaction line...which would change the lower line a bit.
I try to buy pullbacks...up against my lines...trying to buy here would not be advisable do to the fact that there has not been a reaction to the recent trend. Any move lower than the latest pivot channel would signal a possible weekly trend change with could start to wain on the Monthly chart.