My original thought yesterday with that blue rising trend line being broken is showing that the short term bull run has ended was good after all. Just questioned the way those bulls were trying with all their might to get it back over but have failed.
Next test downward is the area around the 61.8% retrace and the middle of the downward channel (red dotted line)
We may see a small bounce up from the 50% first before going into that mild support area.
Break below that and it could see a retest of the bottom of the downward channel (800 - 750) and then see a small bounce but there is alot of resistance above and not a great deal of support below.
Next test downward is the area around the 61.8% retrace and the middle of the downward channel (red dotted line)
We may see a small bounce up from the 50% first before going into that mild support area.
Break below that and it could see a retest of the bottom of the downward channel (800 - 750) and then see a small bounce but there is alot of resistance above and not a great deal of support below.