We tapped the trend line as shown in the chart. This line has acted as support the last 20 days or so with probably ten hits on it. I think in the next day or so we'll quickly drop below it, possibly hitting one of the two 1.618 fibs highlighted, or lower. Once we dip, I'd expect it to be pretty quick. Once it re-enters the channel, it could be a potential area for a long.
If it dips way below 10k, a longer correction may be expected.
This is not investing advice. Good luck!
If it dips way below 10k, a longer correction may be expected.
This is not investing advice. Good luck!
Comment:
Sorry for the messy Idea. I had a bit too much coffee this morning. Anyways. There's quite a few confluence of support/resistance here. Take it how you will. I cleaned up the chart and ran multiple retracements and extensions and nothing pops out here to me....We'll see.
