Two scenarios.
1) If we can break through his continuation pattern triangle we will see a run to around 14,000 then I believe we have one more down wave to the 8k to 9k level before market sentiment will change.
2) This triangle can also break down if we get rejected again at the top of the triangle and continues to fall past the previous low of the triangle. This will lead us to the 9000 support level, could continue on to 8000 support if that is broken.
With the termination of the CME Futures we are seeing the start of a run but will it be enough?
Happy trading,
D
1) If we can break through his continuation pattern triangle we will see a run to around 14,000 then I believe we have one more down wave to the 8k to 9k level before market sentiment will change.
2) This triangle can also break down if we get rejected again at the top of the triangle and continues to fall past the previous low of the triangle. This will lead us to the 9000 support level, could continue on to 8000 support if that is broken.
With the termination of the CME Futures we are seeing the start of a run but will it be enough?
Happy trading,
D
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Another failed attempt at a run. It should retrace to the trend line and bounce, but it is running out of juice it seems. Will be watching for the bottom of the triangle to be broken.
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Broke out upward through the triangle, could make a run from here.
