18200 In sight
As mentioned in previous posts, next real support is around 18211. I say around because this panic selling is likely to cause us to overshoot before a bounce above and then test of the support. That has been the pattern as this bearish channel continues to form. We are over due for a run up, to test and further define the upper boundary of this decline and all signs indicate that the 18000-18400 area will be the platform for it.
Given the close proximity of the cross indicated on the chart with 18211 , increased volatility and more selling should be expected over the next 2 days.
This is not a time to panic, personally I will be looking at FAS, for a increased upside potential with a small downside risk. Nothing big just sticking a toe in the water until we get confirmation of a substantial bounce under way.
Given the close proximity of the cross indicated on the chart with 18211 , increased volatility and more selling should be expected over the next 2 days.
This is not a time to panic, personally I will be looking at FAS, for a increased upside potential with a small downside risk. Nothing big just sticking a toe in the water until we get confirmation of a substantial bounce under way.
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