Working within pitchfork towards target at intersection of Gann fan, down trend and big even of 8000.
The previous target of 9000 now looks unlikely to be reached. The bounce still shows enough energy to break above 7000 and touch 8000, but volume and trajectory appear too low to reach higher.
Mid term outlook is still bearish with a target of 3000 in approximately one month. I will publish a short trade as we approach the end of the bounce.
The previous target of 9000 now looks unlikely to be reached. The bounce still shows enough energy to break above 7000 and touch 8000, but volume and trajectory appear too low to reach higher.
Mid term outlook is still bearish with a target of 3000 in approximately one month. I will publish a short trade as we approach the end of the bounce.
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(wrong link in previous comment)
Comment:
Support line broken, however target may still be in play if support holds around 6250 and forms a right shoulder of an inverted H+S.
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Comment:
Head and shoulders is now complete, strong chance to reach upper 7000s, target remains ~7750. Expect a short term pullback before neckline break
www.tradingview.com/u/OrigamiOracle/