Scenario #1
If we close September below 3770 it is likely we continue back down to retest the 3200 level, possibly even 2800. Its not hard to see with the exponential movement it has had over the last 12yrs, a retest of these levels would feel like the natural flow of things. Also the RSI looking like it needs a reset.
Scenario #2
There is a 3 month inverse hammer doji at play, which could signify a trend reversal. With maybe a push back to the 4200 level, before making another hard leg back down to find support around the 3200 level or deeper.
This scenario would play out over years and would painfully last thru all of 2023 - 2024.
I personally would rather get the pain over with. (Volker)
If we close September below 3770 it is likely we continue back down to retest the 3200 level, possibly even 2800. Its not hard to see with the exponential movement it has had over the last 12yrs, a retest of these levels would feel like the natural flow of things. Also the RSI looking like it needs a reset.
Scenario #2
There is a 3 month inverse hammer doji at play, which could signify a trend reversal. With maybe a push back to the 4200 level, before making another hard leg back down to find support around the 3200 level or deeper.
This scenario would play out over years and would painfully last thru all of 2023 - 2024.
I personally would rather get the pain over with. (Volker)