Tittle explains it. If today's candlestick doesn't close above the flag, we are set for a revisit of the .382 fib (7.8k). That's a good buy zone for short-term trading, but we would have to wait and see the strength of the bounce from there in order to have better understanding of whether we go bullish or bearish (the latter scenario would imply going to the constantly talked about 7.2k level). I identified some support/resistance zones in the purple lines for the sake of having a little bit more information.
In any case, be patient, guys. The current condition of the market is a lot of uncertainty, so let's wait for confirmation of a trend, instead of trying to catch the bottom, or top, of it.
PD: Educational only, have fun trading!
In any case, be patient, guys. The current condition of the market is a lot of uncertainty, so let's wait for confirmation of a trend, instead of trying to catch the bottom, or top, of it.
PD: Educational only, have fun trading!