Like everybody know, we're very close to the key support level of Februrary 2018. If we break it,we will certainly have a huge price movement to the downside... BUT according to the course of events, this downside movement could open the door to a reversal in the market...
In this chart i extrapolate what could be this move. Of course it has'nt to be exactly like this but it must follow 3 simple rules:
1: False breakout 2: Big volumes 3: Closing two days above the 21 moving average to validate.
P.S : Carrefull ! when this type of moves happens, it's not necessarily meen that the correction is over (even if the false breakout often occured at the end of a correction) It may just be a reversal for a few days and then the dowtrend start again... (by the way sorry for my english, i'm french)