Amid all this risk here are the price areas of support in case of a sell-off:
1. Main support is around 2050 points, the green shaded area
2. The 200 day moving average seems to give support above 2105-2115 points
3. The 0.5 ratio of the June low to the November high is near 2100 points
4. The high of November 8 right before the US election at 2146.87 could become support
5. The 0.786 Fibonacci retracement (not on the chart above) is at 2111.52 poinzs
Overall the uptrend is very strong. It could be that the downtrend potential is simply used as a minor pullback and the rally goes on in December without any decline into the just mentioned support areas at all.
1. Main support is around 2050 points, the green shaded area
2. The 200 day moving average seems to give support above 2105-2115 points
3. The 0.5 ratio of the June low to the November high is near 2100 points
4. The high of November 8 right before the US election at 2146.87 could become support
5. The 0.786 Fibonacci retracement (not on the chart above) is at 2111.52 poinzs
Overall the uptrend is very strong. It could be that the downtrend potential is simply used as a minor pullback and the rally goes on in December without any decline into the just mentioned support areas at all.
