As per my previous analyses - we have been expecting this top for some time. It has now been reached and it is all short from here. Expecting the standard pattern similar to what I have drawn here (but by no means exact!). As we move more into the journey I will update with more detailed price movement expectations as we form more solid down trend structures.
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I had my trend lines wrong. None the less the same principle applies. The top has now been reached (though might go up to 9500). Supporting this is the fib levels on the weekly + the NVT which has been calling for sells for ages! Defs short from now!
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Side note, last time the NVT flashed a massive sell; it also retreated before touching the sell line again.
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Also, we still have the green CME gap to close!!
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Also valid, could have just been a massive stop hunt/lets get longs to rekt
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Although I dont believe it. there is a compellling case for a potential rise to 10K plus. Potential cup and handle, potential touch of blue trend line etc. I just can't see it happening with the NVT screaming 'sell' and now the restest of the NVT line almost complete. I see this as a last ditch effort that is sure to fail. We still (afterall) have the green CME gap to clear buy June 30. Anywho, if this is to go further I see 9480 max before massive selling pressure.
