My target buy reached at 3555. Now we are bouncing. My long target is 4800-5200 at the end of January or even in February. Then we are going to new lows. If we go lower than 3550 and close there I will become bearish again. Until that, long target is 5k.
Hope you all enjoy trading.
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Signs of weakness on the lower timeframes. Weak bounce. Put your stop loss around 3525.
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We have strong resistance @3600 from the 200 Day MA which we broke in the last candle. We need huge volume to break it to the upside. If we don't, we are going to accelerate more to the downside. Next support level is the psyhological 3000 level, but it's unlikely to hold for a long time. If we break this Golden Fib (1.61) we are most likely to go to capitulation directly from here.