totally agreed - we will come to see a pullback to the fib 61 support somewhere around 14.300 This will be a chance to take a stake
regards
emregungor85
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@vlenz, how about the chance for a double peak around 17k ? If a spoon occurs then we see uprising.
vlenz
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@emregungor85, hmm, I am not so sure about that. We've established a longer term fib 0,78 resitance zone around 17.000, which proved hard to cross several times, be it upward ord downward. So to me, this 16.900 - 17.200 channel is representing an zone of maximum parity between bulls & bears to date. From here, I think there's not a good starting point to assess the main road.
A better point is around the 14.000 level. If the "death cross" takes us significantly lower than that, we may go to bed and come back next year ;-)