3717 is short term destinatination

Morning guys,

Our K-resistance area of 4250-4300$ that we've mentioned last week is working well. Market indeed has failed to break it on marche. Taking in consideration strong bearish momentum that still stands on the market,
our most conservative expectation is deep retracement to 3717 area and completion of AB=CD pattern, which should give us daily '222" Buy. Ultimate result of the same action could be butterfly with new lows.

Thus, ones our H&S pattern has done well on Friday, we've talked about it in our video on website, today we're watching for butterfly. First target is 3800 - 1.27 butterfly extension and major 5/8 support, next target is 3717 - completion of larger AB-CD pattern and 1.681 butterfly target.

Watch our video on website (see sign links at the bottom of the page) for more details. Thank you for watching.