Where are we heading? The 11,500 is a good support line for now. However as I am writing this,
B
has fallen to sub 11,300 levels. We should be able to find support at 10,200 levels if it continues to go down. Otherwise this slight dip should find some strength at 11,200. It is just a matter of time before we break out of this ascending triangle upwards. However, DO NOT rule out we are going down to sub 10K levels should market sentiments change.
Disclaimer
This post and ALL (previous and future) posts are purely for entertainment purposes only. The owner of this post is not a lawyer, accountant, financial advisor, investor or pastor. All the comments here are personal opinions belonging to peace-loving, Zen-like individuals. Any advice and opinions here should be taken with a grain of salt and should not be relied upon for any individual circumstances.
B
has fallen to sub 11,300 levels. We should be able to find support at 10,200 levels if it continues to go down. Otherwise this slight dip should find some strength at 11,200. It is just a matter of time before we break out of this ascending triangle upwards. However, DO NOT rule out we are going down to sub 10K levels should market sentiments change. Disclaimer
This post and ALL (previous and future) posts are purely for entertainment purposes only. The owner of this post is not a lawyer, accountant, financial advisor, investor or pastor. All the comments here are personal opinions belonging to peace-loving, Zen-like individuals. Any advice and opinions here should be taken with a grain of salt and should not be relied upon for any individual circumstances.
Comment:
Ignore previous.
This should be the level to look out for.
Ignore previous.
This should be the level to look out for.
Comment:
Great! We bounced off the 11,200 levels. Next stop - 11,650.
What do you think?
Great! We bounced off the 11,200 levels. Next stop - 11,650.
What do you think?
Comment:
Pretty sure we are going into sub-wave 2 of wave 3. 3 levels to watch out for the bounce. 0.5, 0.618 and 0.764. Between 0.5 to 0.618 is more probable.
Pretty sure we are going into sub-wave 2 of wave 3. 3 levels to watch out for the bounce. 0.5, 0.618 and 0.764. Between 0.5 to 0.618 is more probable.
Comment:
Critical support level at 10,700. Very likely we break and go down to 0.5 or even lower 0.618 level. Watch out.
Critical support level at 10,700. Very likely we break and go down to 0.5 or even lower 0.618 level. Watch out.
So we have breached the ascending triangle down to 0.786 Fibonacci level. Good thing is, it seems to have bounced off the 11,200 levels. 1 HR RSI looks promising to return to 11,500. However, longer 2H/4H time frames indicate more downsides than upsides.
In the next few hours, we might test the 11,100 support level.