My first TP at 9500 has come on gone. Now, in this pattern developing on the daily chart, price seems poised to be rejected and fall through this trend line. I expect 8300-8800 in this run down. Declining volume, inside an ascending wedge.....a breakdown is almost certainly imminent and at this stage, the bears are clearly in control.
And it bounced off of the line. Volume is abysmal right now. We may run up to the 11800 range. I can't see us breaking above the upper line of this wedge unless something drastic occurs in the volume department.