Currently we printed a low during the sell off. What can we expect further. A> A bounce to recent highs B> Turn back to lower low with a higher RSI on the 1 hr C> A new move up for new highs
So what can we see here: 1. First, in the upcoming hours, we'll have a strong momentum up to the neckline of the M pattern on the daily (blue line) 2. We'll graduately bleed back and excellerate in the end to create a low 3. After that a new bounce will be there 4. A new lower low will be created, but with a higher RSI than the one in step 2 5. After that we'll see a bounce again 6. We've created a W pattern then and can expect the market to retrace back to it 7. Further continuation up to create a new high
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