Well, lets have a look at the general picture. If we compare the previous major crashes with the current one, it would not be crazy to expect a multi year bearish down trend. Lets assume thats the case and look at the trend angles of previous major crashes, its always around 73-74 degrees angle. And lets assume that we are in a multi decade wedge, we bounced from the previous resistance new support but if we are in a multi year major crash we probably will break that support and go down to the wedge support eventually.
Probably not now possibly in the next few years we will hit 6K region and the wedge support will probably act as the bottom. If this is the case it will be a very bleak few years.
Just an idea.
Probably not now possibly in the next few years we will hit 6K region and the wedge support will probably act as the bottom. If this is the case it will be a very bleak few years.
Just an idea.