The falling wedge has played out with an extension and we have now hit support so a short term bounce is likely. We still have a gap to fill and potential support levels to test should we fail to rise above the longer term Inverse H&S bottom for now (this pattern remains valid should we remain above the all time lows during this correction). Ultimately, expectations are for a move to the 180 level once current broader market weakness and correction plays out. Looking to take this long trade once the next support level is tested.
Not investment advice and do your own due diligence!
Not investment advice and do your own due diligence!
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