Follow on video to last nights video and I have to says... i actually was expecting the 200EMA to hold price action. I mentioned, last night I would be watching to see how today candle would play out and was hoping bullish, but that is not what is happening.
Obviously, I'm expecting the daily to close below the 200 EMA here in just a little while, which would indicate the potential for more downside. The question being is how much further. From a monthly fib retracement perspective, we could see 6500 area. Personally, I would like to see the next support zone hold, which would put use in line with the last spike down and support structure from last November; we'll just have to see.
I did notice on the 4HR, we might be seeing a double bottom form?? Let me know what you think about that.
Anyways, if you like the video, give me a like and leave a comment.