An idea: Many times when there is a mass agreement being spoken about by everyone on an exact top or bottom (in this case we're all predicting 7800 for a strong bounce on a 618 fib level), market makers will surprise us by either pushing price below it or bouncing early. The 8000 level is at the bottom of a falling wedge and directly on a 10-month-old support line from July 2017 (I'll post a Daily chart soon showing the points the support line touches).
While 7800 is definitely still a good possibility, be careful not to get stuck on an idea just because everyone is talking about it; in a market that moves like this one, things don't always go exactly as planned. Just some food for thought, nothing to bank on 100%.
While 7800 is definitely still a good possibility, be careful not to get stuck on an idea just because everyone is talking about it; in a market that moves like this one, things don't always go exactly as planned. Just some food for thought, nothing to bank on 100%.
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