Venture Exchange

The Venture’s biggest challenge at the moment is overcoming a resistance band between 1350 and 1365, so the market has stepped back slightly to rebuild the energy to do that…the Venture has closed below its 20-day SMA for the first time since early August which is unsettling to some, but from 1250 to 1300 there’s a ton of support based on Fibonacci numbers and rising 50 and 100-day SMA’s…in fact, right now, you’ll notice in John’s 3-month chart below that the RSI(14) is now at previous support after spending much of last month in overbought territory…the consolidation channel is very much intact…