Now we managed to fall below the classical pivot. Usually it would look like if we have sufficiently corrected the October-mid December rise. But as here is not only the pivot but a twice confirmed former resistance point it is as much important that we may even see a much deeper corrective decline to the direction of the 78 % Fibonacci level as a magnet. Whether it will really fall as deep is not clear of course. There are some obstacles to overcome on this way and everything will depend of the development of the momentum in the weeks ahead.
Trade closed: stop reached