Correction continues; potential C&H + 3 possible support zones
3 lines of potential support for this fall I'm seeing our number 1 at 7413 which is top trendline of the big descending triangle pattern / adam and eve neckline we broke up from # 2 is the 4hr 200ma at 7060-7080 #3 is the 1 day charts 50ma at 6853..to have a chance at forming a higher low on the day chart, triggering the current cup and handle unfolding and the 1 day golden cross one of these will likely have to remain support. If we can remain above the 1 day 50 MA then this will just be a correction that will inevitably resume the uptrend and the golden cross should occur hopefully sooner than originally planned, coupled with some positive ETF news to help us break out of this handle, break above the neckline and potentially trigger the cup!however a few closes under the 1 day 50ma and then we could be looking at an impending lower low on the 1 day chart. In the short term I'm short...but long in the longterm. Good luck and thnaks for reading! **not financial advice**.
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