ALL SIGNS SHOW A VERY STRONG SHORT COMING IN TO PLAY. ANALYSIS IS AS ON CHARTS:
20MA TURNED FOR THE DOWNSIDE... EVERY TIME THIS HAS HAPPENED HISTORICALLY, THERE HAS BEEN A BIG MOVE FOR THE DOWNSIDE.
PRICE HAS BROKEN OUT OF THE LONG TERM UPWARD CHANNEL FORMING BEARISH PRICE ACTION...
LOWER TF SHOWS A DESCENDING TRIANGLE FORMING (ALSO A BEARISH CHART PATTERN)
LONG TERM MONTHLY TARGETS ARE 15582 (76.4 FIB) AND 13847 (61.8 FIB)
20MA TURNED FOR THE DOWNSIDE... EVERY TIME THIS HAS HAPPENED HISTORICALLY, THERE HAS BEEN A BIG MOVE FOR THE DOWNSIDE.
PRICE HAS BROKEN OUT OF THE LONG TERM UPWARD CHANNEL FORMING BEARISH PRICE ACTION...
LOWER TF SHOWS A DESCENDING TRIANGLE FORMING (ALSO A BEARISH CHART PATTERN)
LONG TERM MONTHLY TARGETS ARE 15582 (76.4 FIB) AND 13847 (61.8 FIB)