The dead cat bounce only lasted a couple of days, and it gave way soon and very quickly yesterday (pre-market). This breakdown was with decent downside momentum, and was also off the 50% Fibonacci retracement level, as observed in the 4H intraday chart above.
By projecting forward using simple geometric extensions combined with Fibs, 10,800 is the next downside target (yellow arrows), which could happen swiftly or drag another week. Honestly, do not know which is worse.
In another view, we see a range from 12565 to 11700, which the latter would attempt to provide some support (aqua arrows). Breaking down and out of this range, similarly points to circa 10,800, but in a more swift take down.
Daily technicals employed here support the downside momentum and targets.
So, look for support early-mid next week, if we get a new intraday low, yeah?
By projecting forward using simple geometric extensions combined with Fibs, 10,800 is the next downside target (yellow arrows), which could happen swiftly or drag another week. Honestly, do not know which is worse.
In another view, we see a range from 12565 to 11700, which the latter would attempt to provide some support (aqua arrows). Breaking down and out of this range, similarly points to circa 10,800, but in a more swift take down.
Daily technicals employed here support the downside momentum and targets.
So, look for support early-mid next week, if we get a new intraday low, yeah?
Ghi chú
Nicely, it appears that the support is holding well, and an actual higher low was made.So, let's see if a higher high is achieved...
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.