- Probably due to the Fed's Oct 28th decision of keeping the rate unchanged --> to export-oriented Asian countries.
- Price has since plunged a hefty 3% or 50pts, from 1,720 to recent low of 1,660.
- There are both psychological (50pts plunge), & technical ( , S&R zone) reasons that points to impending bullishness over the next 1-2 weeks.
(1) Price-Momentum Divergence at latest low around 1,660
(2) Increased potential of another upleg to RETEST the more significant 1,740-1,750 resistance upper band.
(3) Expect a reclaim of the 1,720 level, then further rally towards 1,740-1,750 upper band (shaded zone).