Again, I believe this to be the final reversal pattern of the bear market and should see some formation of a rally following this back up to the major resistance at 330ish mid November - December. Ultimately , but for the next 3 weeks or so.
Full disclosure: I have already shorted my position earlier today. Take it as bias if you feel that's the case. Good Luck out there!
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Some claim the price will go lower than our previous low. I honestly, can't tell. But, it feels to me that the support around the 160 low was strong. I think the market understands that price range is too good of a value buy to allow it to go lower. I think most have the same opinion that I have: "if I see a price below 150, I'll be buying a lot more." I simply don't mind at that point if I'm holding the bag at 190 with so much upward potential, and a vastly decreased downward potential.