This is a very interesting scenario. It’s easy to see that price broke the large RM (yellow rectangle) upwards and now is currently reaching a second top close to that short red horizontal line.
If price will go above that line, it’ll invalidate the first top and will setup to go to the next target, which is the all time high of mid Oct 2012. Passing that level would be like Rubicon motto: alea iacta est (the die has been cast). Also, while we are in latin mottos mood, we’ll get into uncharted territory, where ancient Romans would write: “his sunt leones” (here be lions, general “unknown territory” description for interior Africa lands).
Needless to say, holding stock at those levels will be for the strong of heart!
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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