Distribution at the 0.618 retracement
Initial near term target is 385, point 381, lower target is 374
Could bounce from support in that target zone but if breaks below then likely will see a double bottom around 350, worst case more capitulation toward 300-318. Bigger picture its still trying to complete wave IV and begin wave 5 (which will result in new all time high in 2023). But we're not there yet
Could bounce from support in that target zone but if breaks below then likely will see a double bottom around 350, worst case more capitulation toward 300-318. Bigger picture its still trying to complete wave IV and begin wave 5 (which will result in new all time high in 2023). But we're not there yet
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Related publications
Disclaimer
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.