Woke up this morning to see that "the FIB circles of Death and Capitulation guys" have been busy and actually have read what they wrote. Shocker! again solid artwork and conclusion that leads to the answer "42". (Kudos if you got the reference and tip of my hat if you actually know what 42 actually means).
Now let's put some meat on that bone and discuss what we are seeing.
1. 200 just got violated, yet this means nothing so far. If we manage to open and close 4H outside of it then I would expect continuation to 377 stationed at 10200 Level.
2. Meanwhile, the impact signal line accelerates deep into the zone and we see downward price pressure on the momentum oscillator.
To summarize, if we open and close below 200 bad, if we play in the range between 200 EMA- Good.
There is about a 70% chance that we continue the movement towards brown 377 .
Happy trading all! and have a great day!
There is a death cross fast approaching on 2H, which does not hold much water but it indeed confirms our expectations for lower price levels.