Bulls indicator 21 EMA has been broken. We are down trending (~-40% from previous ATH).
Most likely outcome for October-November :
a) Down trending to 7200. if 7700 compromised ~40% chance. If 7200 brakes - brace for impact ....
b) Consolidation in 7800-8500 range. ~50% chance
c) Exit from downtrend 8800+ (Before November) Breaking 21EMA in November (with weekly close above it ). ~10% chance
Most likely outcome for October-November :
a) Down trending to 7200. if 7700 compromised ~40% chance. If 7200 brakes - brace for impact ....
b) Consolidation in 7800-8500 range. ~50% chance
c) Exit from downtrend 8800+ (Before November) Breaking 21EMA in November (with weekly close above it ). ~10% chance
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i'm expecting price to drop to 8000 on CME futures dump on 23 november.
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Target 8000 has been reached. Next target 7500 before the end of the week.