This decrease wedge is considered a berish.
It has been forming over the past 3 months, with the current market i would say we have a much higher probability of breaking down.
It could be worth taking a quick swing trade back to the top of the channel, if so i would have TIGHT stop losses and get ready to go short once it reacher the top.
We had a little dip , sooner then expected.
My feeling is that we dropped too quickly and may get a little bounce or go sideways for a few days as the RSI recovers before continuing down to the support line. .
Both the RSI and CM_willams VIX are showing very strong buy signals. Maybe worth a quick swing trade but i would keep a close eye on it and have a...