TLS has now entered into a what I would consider a LONG TERM SUPPORT ZONE dating back to 2013. Will it hold is the question ?
If the latest breakdown turns out to be false which occurred @ $5.50 ( Close say above $5.53 with a follow through next day would negate that) level, we MAY see a nice and decisive counter cyclical rally to the zone of $5.80 from current levels which is likely to meet resistance if it did happen . Retest of the low made yesterday @ $5.275 is also very likely over the coming weeks/months. My anticipation is that we may see some rangebound price action with the upper boundary (Resistance) around $5.80 and lower boundary(support) around $5.10-$5.40 with TLS.
Disclosure : I am a holder of TLS.
Weekly Chart of TLS, highlighting the ZONE OF SUPPORT.
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