Could we now be in an ABC down to around the $60? The reason why I think $60 is because that's roughly where I assume the 200MA will be by the time the ABC down is finished. As you can see in the chart, the 200MA is a STRONG support, bouncing each time it touches.
Comment:
Apologies as I've not been following this to closely. The RSI on the daily TF is crazy overbought and if this is to go higher it needs to cool off.
