Our Friend Bart Simpson came to visit us this morning so what does that mean moving forward? For me the longer we remain under 12k the more bearish this scenario gets. We need to close todays daily candle above 12,000 if not i fear we could hang in this 11,700-11,950 area for awhile as we can easily make the move to backtest $11,200-$11,300 again if bulls drop the ball here. Bull Target- Just close today above 12k - Bear Target-$10,800-11,200, Thank You For Your TIme!
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Forgot to mention but bulls do have some support around 11,400-11,500 doesn't seem all that strong but if you do start bearish positions just giving you something to keep in mind when thinking about taking profit