Bullish falling wedge.
First, more down. Buy zone is 260-2.
260 has strong support .
Also is the 0.5 Fib level.
In a prolonged bear situation, the .618 level is in play at the very end of the falling wedge (box 2).
I do not see this happening, but it is possible if overall market sell off is still high at 260.
First, more down. Buy zone is 260-2.
260 has strong support .
Also is the 0.5 Fib level.
In a prolonged bear situation, the .618 level is in play at the very end of the falling wedge (box 2).
I do not see this happening, but it is possible if overall market sell off is still high at 260.