This is showing a good bearish turn on the weekly chart @ 2128, longer term (weeks/months, not tomorrow!) I am expecting to see it retrace down to the 2000 mark.
Once reached we would need to see what the market has prepared for us a bounce to the upside or a breakthrough towards our second target of mid-1800s.
Getting a bounce at point A would likely see us return to the 2100 area (point B) where we're likely to get an even stronger bearish movement and point C would be our new target.
However, do not rule out a breakthrough to the upside at point B where we should expect to see even higher highs than those of this month (October 2016).
Please bear in mind that this is a longer term forecast and only my view on the market - please trade responsibly and be accountable for your own strategies and trades.
Happy trading and good fortune to all.
Once reached we would need to see what the market has prepared for us a bounce to the upside or a breakthrough towards our second target of mid-1800s.
Getting a bounce at point A would likely see us return to the 2100 area (point B) where we're likely to get an even stronger bearish movement and point C would be our new target.
However, do not rule out a breakthrough to the upside at point B where we should expect to see even higher highs than those of this month (October 2016).
Please bear in mind that this is a longer term forecast and only my view on the market - please trade responsibly and be accountable for your own strategies and trades.
Happy trading and good fortune to all.