IBB from Monthly and Weekly
I traced IBB from the beginning of it upward sloping trend on a monthly chart.
Surely, if it continues to pullback, it will just fall to the purple trend line or the blue one. The blue one is right where there is horizontal support is.
On a logarithmic chart, the purple is 15 degrees in slope and the blue is 32 degrees in slope. So, IBB may go range until it go to these trend lines.
Surely, if it continues to pullback, it will just fall to the purple trend line or the blue one. The blue one is right where there is horizontal support is.
On a logarithmic chart, the purple is 15 degrees in slope and the blue is 32 degrees in slope. So, IBB may go range until it go to these trend lines.
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