What’s hard for me to assess is how high $NU goes. There’s essentially two scenarios that I’m weighing right now. For either outcome to take place, $NU needs to get above the $.65 green line for price action to turn bullish . After that, then there are two separate scenarios that I’m looking at:
Scenario 1) I could see price moving really quickly once breaking $.65 to break the ATH at $1.14. If this happens, I think the most likely scenario is for price to surge up to $1.46, consolidating back to around the $.87 range, and then making another move higher towards the $3.07 range as the final high in Mid Oct/Nov. This could all happen very quickly, just like the move did in Feb.
Scenario 2 (less bullish ) I could see price breaking the $.65 level and then not breaking the ATH high – price moving somewhere between $.98-1.10, and setting up for a longer term lower high on the chart, which would send price lower over the long-term.
In either scenario, I’d see price action playing out before November 9th – the last pivot on the chart. I’ve marked key dates for changes in price action and currently looking at the week of Oct 18th for a cycle top. I’ve also marked off important resistance levels on the way up.
If any interpretation changes, or as we get updated price action, I’ll update in the comments below.
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