I don't think there is only one scenario here.
Many things are possible. I have this vision but it is totally speculative and i am ready to change my mind on any deviation which could be:
1) a rebound from here without touching 2040 that could lead to 2160
2) a total collapse below 2040 without rebound (which I don't believe in because too many people are shooting "sell in may - crash dia dia..." and the quarterly expiry has been acting as a pull on all expiries since 2012.
Many things are possible. I have this vision but it is totally speculative and i am ready to change my mind on any deviation which could be:
1) a rebound from here without touching 2040 that could lead to 2160
2) a total collapse below 2040 without rebound (which I don't believe in because too many people are shooting "sell in may - crash dia dia..." and the quarterly expiry has been acting as a pull on all expiries since 2012.
