US 30 possible near-term bottom forming- gap to fill up

Chart self-explains. Could sure get lower but behavior suggests a bottom retest may be in at 24421. Wait on 4hr to confirm it.

Could get a strong lift into December off these lows to form a right shoulder before the bears really tear into it. Unpredictable now.

Just an idea not trading advice- trade at your own risk! GLTA!

Trade active:

It has formed a bull flag in the 15m intraday. IDK... not going long yet!

Comment:

Err-- 'bear flag' sorry - countertrend pennant. As Mr Unwind noted, too soon to commit to long position yet, but too risky to bet on a further decline IMHO. I expected lower, see if we get it!

Trade active:

Sure looks like it will retest lower lows, extreme, relentless bearishness. Stay tuned!

Trade active:

Futures point to a lift in pre-holiday session, there's that gap to fill above around 248-249; we have an EW five wave impulse pattern forming here in C leg, if a countertrend wave 4 forms today, it should provoke a bearish reaction; the fifth wave down could retest lower lows and spark capitulation panic. Still too soon to go long, trend remains bear- be carefull!