The market drop stopped at several long term supports, as well as a Fib cluster. Along with the W%R now lifting from the -80 level, this chart shows that there is a possibility now for more lift. The recent drop remains within the long-term red channel and shows that it has been a consolidation move, and currently remains within a positive trend.
IF all these supports fail, we can see the next lower likely market levels it will again pause at.
Otherwise the current lift is the start of a new wave and potentially new highs to come.
IF all these supports fail, we can see the next lower likely market levels it will again pause at.
Otherwise the current lift is the start of a new wave and potentially new highs to come.
Andrew J.D. Long, MFTA
MATASII.com
MATASII.com
