Current view:
The current view suggests that if the market gradually takes support around the support level, then we can expect a minimum retracement of 38% to 78% in the current swing. On the other hand, if the initial market decline is sharp and it consolidates around the immediate support level, then the correction will likely continue.
Alternate view:
The alternate view is similar to the current view; it suggests that if the initial market takes a pullback, we can expect a range-bound market with a moderately bullish tone. The target is a minimum retracement of 78% in the current swing.
The current view suggests that if the market gradually takes support around the support level, then we can expect a minimum retracement of 38% to 78% in the current swing. On the other hand, if the initial market decline is sharp and it consolidates around the immediate support level, then the correction will likely continue.
Alternate view:
The alternate view is similar to the current view; it suggests that if the initial market takes a pullback, we can expect a range-bound market with a moderately bullish tone. The target is a minimum retracement of 78% in the current swing.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.