We are dropping back into a support zone
that's similar to what I've posted about previous times. Interesting that this similar target was newly calculated using price points from the entire ongoing correction since the June 16, 2016 high near 5200. (There's value in journaling your trades!). Additional confirmation comes from this zone having been major resistance from May 28 until June 11, 2016, when it was finally broken in an explosive move higher. On June 23 it was strong support where price spiked all the way down to 3480 intraday during a period of high volatility
but the daily bar closed well above 3800. Will the 3800 level be key once again?