Is this possible for another small bear flag pattern in forming? If this pattern is valid then the below target would be 1814, 1807/02. As long as the price could stay below 1847/50 then this is deemed valid. In our previous analysis, we identified the bear flag pattern from 1918 ~ 1834, and if we stretch it, the formation can also begin from 1960 ~ 1790. Let's see how it goes as we have FOMC next week which could swing the market again with the volatile move.
Trade closed: target reached:
Target achieved at 1804 for this bear flag pattern