Friday ended with a hanging man on the highs. Attention to the next few days. A 12% drop could begin until the last gap opened near the 2,618 Fibonacci area. Attention to the area 3210-3205 which will be an important support. The US economy remains strong, this could only be a technical descent to increase long positions. The 12% drop is very deep, I don't know how many possibilities it has to happen but we cannot rule out anything.
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Look 2870. Is 0,5 Fibonacci level on monthly chart. Perfectly on the median of the bullish fork.
I completely agree....a hanging man is to fool retail trades and can expect the market to go up and up and up
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@Matrik888, needs confirmation. if I do analysis on the value and the fundamentals, well, I don't see a single reason why it should go down. it's just a technical consideration. if confirmed, then we can set targets to the downside.