As expected from last week’s analysis, the market reacted and dropped.
Right now, multiple scenarios can play out, but based geometric analysis, the most likely one is a continuation of the bearish structure unless 21200 is broken.
Confirmation for further downside is a clean break below 20770.
Failure to break this level would invalidate the bearish outlook.
Downside targets:
20500
20330
20000
If there’s strong selling pressure, even a deeper correction toward 19000 is possible — but only valid if price returns with strong bullish rejection.
Otherwise, holding below 19000 would confirm a deeper bearish move (which I personally don’t expect for now).
Right now, multiple scenarios can play out, but based geometric analysis, the most likely one is a continuation of the bearish structure unless 21200 is broken.
Confirmation for further downside is a clean break below 20770.
Failure to break this level would invalidate the bearish outlook.
Downside targets:
20500
20330
20000
If there’s strong selling pressure, even a deeper correction toward 19000 is possible — but only valid if price returns with strong bullish rejection.
Otherwise, holding below 19000 would confirm a deeper bearish move (which I personally don’t expect for now).
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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.
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.