The (X),(W) levels are probably a good indication of above bullish and bearish respectively!
The respective targets for the ongoing formation of a symmetrical triangle being estimated as the break as yet not known.
As most would know now we are at a crossroads here as to which direction we head in this confluence area!
The cypher has partly played out in this $11080 long term support area.
Whether we abc/impulse up or continue the larger ABC down?
If we have made a local top then possibly the (X) wave has reached its ultimate target 61.8% ~ 65% retracement of (W). This would then tie in with this local top made by the "Tweezer" pattern candle formation ~ only time will tell if this plays out?
Has the Bull Run Stalled temporarily?
Lots of talk about CME gaps not being filled earlier so maybe we are a mini bear correction to fill these gaps?
We could be doing something like this:-