Real estate topping? Price to fall to mid-30s to low 40s?
While everyone is bullish real estate, the chart says price is likely to turn bearish.
As you can see from the chart, we just retested and rejected a long term bullish trendline, and now with that rejection, it sets up the chance for price to fall much lower from here.
The first supports are in the low 40s, and if we end up breaking that, we'll likely fall to the 50% retracement region in the mid to upper 30s.
Let's see what happens over the coming weeks/months.
As you can see from the chart, we just retested and rejected a long term bullish trendline, and now with that rejection, it sets up the chance for price to fall much lower from here.
The first supports are in the low 40s, and if we end up breaking that, we'll likely fall to the 50% retracement region in the mid to upper 30s.
Let's see what happens over the coming weeks/months.