It is going to take a lot of momentum if we are to break back above resistance at this point. This is an update on an idea I posted not too long ago, showing the channel to the downside.
Right now, it is possible we are experiencing a move to the 7800 levels over the course of a few days. If that happens, I would like to think we'd also experience a significant bounce! A break below would yield $6,000.
These are just my opinions, and not actual trade advice