I am showing a few different directions:
Pink - Tracking a V-Shape recovery (Low likelihood considering the market environment)
Yellow Waves - Tracking a accumulation cycle (High likelihood)
Yellow Arrows pointing to important prices and dates
Blue shaded area represents a past channel of support that would signal a potential move back to growth. We would need to see a few weekly closes to confirm that channel.
What are your thoughts?
Pink - Tracking a V-Shape recovery (Low likelihood considering the market environment)
Yellow Waves - Tracking a accumulation cycle (High likelihood)
Yellow Arrows pointing to important prices and dates
Blue shaded area represents a past channel of support that would signal a potential move back to growth. We would need to see a few weekly closes to confirm that channel.
What are your thoughts?