This is my first idea and I try my best with charts.
We have bounced back down in the bear channel and here I try to show the potential support lines:
- First one is around 9k. this is in the case of a head and shoulders forming. In this case in my opinion it will be a strong bounce back up. The validation can only be certain if we break the up limit of THE channel.
- Second will be the 8k local bottom of 02/02
- Third will be the 6k bottom of 06/02
If we break through all these supports, it only makes sense to me that we will test the bottom limit of the downward channel at 3k.
In my personal opinion the correction is not over and we will touch the 3k. But I guess only time can reveal the truth :)
have a nice day.
We have bounced back down in the bear channel and here I try to show the potential support lines:
- First one is around 9k. this is in the case of a head and shoulders forming. In this case in my opinion it will be a strong bounce back up. The validation can only be certain if we break the up limit of THE channel.
- Second will be the 8k local bottom of 02/02
- Third will be the 6k bottom of 06/02
If we break through all these supports, it only makes sense to me that we will test the bottom limit of the downward channel at 3k.
In my personal opinion the correction is not over and we will touch the 3k. But I guess only time can reveal the truth :)
have a nice day.