Gann fan failure
Broke Fan channel support. Likely to bounce around the new channel but overall bias is currently bearish.
Note
Seems like we'll be drifting downward to find a new level of support. Likely the 2400 then 2200 areas with bounces between.Note
There's the 2200 support. Bounce time before 2000.Note
And there's the dump to 2050. Notice how it's respecting these gann lines at every bounce. Support levels suggest a potential bounce back to ~$2,250 before heading towards $1,850.Note
Approaching the re-short zone. Ready your orders. Could go as high as 2400 here, but expected fan rejection at that level.Note
Watch this bounce. If this inverse head and shoulders is rejected, I fully expect a retest of the 4/1 gann. A failure at that level takes us to the 1400-1500 range (8/1 gann).
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