It seems that it will go lower I expect 113.087 tomorrow then it might go lower if the price react to the 108 degree angle.
Use the screenshot below to readjust the chart:
Cheers,
Keops
The S&P is about to it a 108 degree drop angle, IF POSITIVE the price will start moving down and drop (after Fib 0.236 been hit) to hit 3.96 resistance level and FIb 100% retracement level (about 2022).
Use the screenshot below to readjust the scale:
Cheers,
Keops
CADUSD chart using experimental Magic72 technique. Right now the price is sitting on 0.45 support arc line. IF it doesn't hold it will resume it's downward path inside the the sub channel lines to hit 0.7354 on April 06 which is on the 0.63 support arc line and Fib 38.2 retracement line.
I hope you like this kind of TA.. I invite you to check previous Magic 72...
It seems that the 72 angle has an effect. We could go down to around 1.1145 and bounce back to around 1.1246 (1.121 may be the resistance) then go down again to around 1.10789.
Use the screenshot below to adjust the chart scale:
Experimenting on 30 min timeframe. It looks like it is going to hit the 108 angle and will go down 1.12232
Use the screenshot below as a visual guide to reajust the scale:
We have just passed a time cycle line and are just about to hit a 99 degree angle (81 degree reverse), if positive the S&P will go down fast to the 1906-1907 level. A rebound might be in the cards around 1968.
See the chart below to reajust the scale if needed:
Experimenting on 60 minutes time frame with Magic 72 technique.
It's always a possibility that R1, R2 or R3 might have an effect that break G1 (36 degree angle) support line.
Use the static screenshot below to reajust the chart scale:
Using Magic 72 experimental technique. The dotted redline may have no effect, if so uptrend move to around 1.12 until March 18 (option 2).
Reajust the chart scale based on the static screenshot below
Static screenshot:
I was doing an analysis comparing 2008 and 2016 and I found that if we go down very soon, it will confirm the downtrend channel (144 degree purple lines). More than that, we are also just right before a 108 degree angle. I draw 2 options from that point.
Option 1: Mother of all crash in the red upper part channel.
Option 2: Major downtrend waves in the purple...
This weekly chart of the S&P500 shows that another BIG wave down is coming soon. We could go to around 1775 last week of April - first week of May then a dead cat bounce to around 1652 in mid June.
Static screenshot below:
