COF to begin pullback around early June
- Credit card defaults are at all-time-highs
- This pump is heading toward over-bought territory
- The trend is downward (below both 50 and 200 MAs on the weekly)
- This is a pretty obvious "head-and-shoulders" formation in the making
- Still have downward pressure possible with MACDs, LuxAlgo, RSI and other indicators
- I anticipate it tops out at around $110 (also coincides with a fractal number and a MA) befor its sharp decent, around late-May/early-June