After warning of 200 pnts drop yesterday for monday, the futures opened 200 pnts lower at 4800
But expect to see a green bar during the day or tomorrow with 5100 as target to fill some gap and many short sellers taking profit. 4800 is at 2022 peak so technically a strong support
5100 hundred would be a resistance for further downside
If it goes over 5100 and stays there, the trendline break rule fails. Then I will have to review my further downside targets and start being medium term neutral/bullish from bearish and consider 5300 as next target and 4800 as target for double bottom for being bullish
But expect to see a green bar during the day or tomorrow with 5100 as target to fill some gap and many short sellers taking profit. 4800 is at 2022 peak so technically a strong support
5100 hundred would be a resistance for further downside
If it goes over 5100 and stays there, the trendline break rule fails. Then I will have to review my further downside targets and start being medium term neutral/bullish from bearish and consider 5300 as next target and 4800 as target for double bottom for being bullish
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.