This is a hypothetical bear market, based off of the bear market 2008/2009. We are still bullish long term, yet short term bearish. Fibonacci levels are marked with the red dotted lines. Previous correction touched the %61.8 Fib level, which is roughly at $1556.56. Following the channel, and estimating time for correction, would touch the bottom of the channel at $1252.56 on 27 January 2020.
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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.