Just looking at the previous bear market, it looks like we could be forming some smaller version on the weekly.
While I will turn if we can get over 11k, I remain with a potential scenario looking like this. Also note we fell through the 21 weekly MA and then went to retest it as resistance…ooooooooooh dear!!!!!
Don’t get me wrong, we may not hit these targets, at least not the low target shown here as we have a strong weekly OB near $6k, but there’s no denying, with lower lows and lower highs, we are NOT in a formation right now.
Published at Sun, 10 Nov 2019 22:05:09 +0000