W-shape recovery - horizontal channel scenarios
Updated
Oh my, so many questions... let's beginn on thursday: I think that if we see a rebound early in the day, it might hold up to form this beautiful 'W' shape -OR- it breaks out completely ON. A. FRIDAY. But this might be just too far fetched these days.. IF the 'W' forms though, this gives at least somewhat of a ground. Will be tested next week then -.-
If the W does not form on thursday morning, we'll see anew low in a downwards channel (idea linked)
If the W does not form on thursday morning, we'll see anew low in a downwards channel (idea linked)
Note
Update: We toched bottom and for now it seems to hold. Sentiment is very bad, but I still think that the 'W' is possible. It will all be clear in 3 hrs ;-)Note
Ok, we at least tried to form a 'W'. The night and friday will show, if we can reach up to 12500 again (possibly before dropping again)- 11700 seem to be rather solid. I think it will get challanged again soon, but since bears seem to lose possibilities to re-enter, this might lead to another rally to test the channel at it's upper limit
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