Do we need to expect a 50% pullback ?
Hello, everytime in the history of the PSX, when the price broke downwards trough the main black trendline, we got a 50% retracement of the price.
Currently the price did broke downwards trough that line and bounced off of it downwards, confirming this trendline is a strong support/resistance for SPX.
We need to pay attention to the orange exponential curves. If the price punches downwards trough that line, then it is not good, especially if it does not recover and goes back on top of it to resume it's course. The blue line may then come to the rescue and provide the price with a support to go back on track on an exponential orange line growth.
The next weeks/months will be decisive.
Currently the price did broke downwards trough that line and bounced off of it downwards, confirming this trendline is a strong support/resistance for SPX.
We need to pay attention to the orange exponential curves. If the price punches downwards trough that line, then it is not good, especially if it does not recover and goes back on top of it to resume it's course. The blue line may then come to the rescue and provide the price with a support to go back on track on an exponential orange line growth.
The next weeks/months will be decisive.
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