ABCD measured move from 2020 lows and long term upper trend line coming in 3525 area which may hit this week. I’d expect a significant pullback from there to at least to 3400 in near term then we’ll see.
Thinking we’re setting up for another leg down. Might break downtrend and get up to 50% retrace of of the downtrend first. Need some confirmation of staying below the current downtrend line and half back.
Above $80 buy
Below $70 sell
Fell to 0.618, regained half of loss, false breakout to upside then break if uptrend, it’s retesting that now. If it doesn’t get back above uptrend line I think we get sideways or back lower in the short term.
