Bear flag scenario and fib targets below

25 Agu 2018

Every rally we had this year has been getting lower highs, which means the market was tested but lacked buying pressure to get a new major high, and testing 6k area several times. If they want to avoid 4k we should get the first major higher high above 8.5k (Looking at 9.2k as first target) and breaking the upper trendline on the way there. Otherwise these untested levels below remain valid for the next months. There is also the possibility of a long accumulation period around 6k area lasting for months, which would mean we found bottom around there. Decision time before the end of the year.