Here is a chart with my support and resistance lines. They have been pretty accurate so far.
As you can see the price bounced off my short term support around 7700 and then later went through it and bounced off of the 4 year support line around 7650. I believe it will keep bouncing off of the short term resistance (the line angled down to form a triangle) for the next 12-16 hours. It might go down to the lower resistance line again. Sometime around the 12-16 hour point I think the path of least resistance is up. I expect a pretty strong buying trend at this point.
I'm not a professional, or financial adviser so take my opinion with a grain of salt.
What do you think? Let me know in the comments.
