A break of the 2990-3020 confluence of supports leads us immediately lower to 2930, the 0.618 fib off the Feb ATH to March lows.
That is going to be a 70 point run without any heat, so just fade any rally attempt on the way from 2990 to 2930. We'll see from there where we go - I think lower still, the target would be 2840 (follow the blue circles).
That is going to be a 70 point run without any heat, so just fade any rally attempt on the way from 2990 to 2930. We'll see from there where we go - I think lower still, the target would be 2840 (follow the blue circles).
Note
Here is a zoom in of the box.
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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.