Nothing to write, the price was wedging and broke lower, no surprise. Hopefully it corrects more now and we can
kill some of the excesses in price and washout the speculation now and not later from higher cliffs. Likely Mid to high 4200's,
a bit less likely is close to 4000 and even less likely but still possible and my favorite scenario is 3700 - 3900. Before ultimately bottoming to start the next extended cycle higher into 5000's+ over the next 3 - 5 years. Likely to end year close to 4500 or 4600.
Look for a slow and steady decrease in the standard deviation day to day in prices. High vol days should be behind us for a while beginning fairly soon or possibly this may already be under way.
kill some of the excesses in price and washout the speculation now and not later from higher cliffs. Likely Mid to high 4200's,
a bit less likely is close to 4000 and even less likely but still possible and my favorite scenario is 3700 - 3900. Before ultimately bottoming to start the next extended cycle higher into 5000's+ over the next 3 - 5 years. Likely to end year close to 4500 or 4600.
Look for a slow and steady decrease in the standard deviation day to day in prices. High vol days should be behind us for a while beginning fairly soon or possibly this may already be under way.
