It's pretty obvious where we are here, however, given that we broke down below that long term support line I expect that to play a role in any major differences going for with more of an overall bearish bias. I do not have a lot of experience, so please do not trade on this idea. I am merely sharing things I see and looking for any input from more experienced traders. Short term bullish, mid term bearish, long term bullish
Comment:
I was more inclined to put that flag from the previous bear market at the final capitulation lower low. I'm not convinced we've hit bottom yet so I did not put it there. It would make more sense from some perspectives. There are a lot of indicators, however, that would suggest we haven't reached the final bear market capitulation. Lack of sell volume on the bottom would be the biggest factor in my opinion, but I have never traded through a bear market before so I honestly am learning as I go.