major correction looks about done
Dark blue line is the original trend line, the lighter blue was when it started to change at a more aggressive slope in July/Aug.
As you can see, we have bounced off of the light blue trend line and are starting to stall at the resistance side of the channel. I expect a pullback to around the 38.2% fibo level at about 8400.
Stoch and RSI are signaling a clear buy signal now, and if and when the re-test of support in the light blue trend line holds, we are going on back up, if it does not, then I can see the dark blue trend being our more 'normal' trend with, hopefully, less irrational people trying to catch a rapid rise.
As you can see, we have bounced off of the light blue trend line and are starting to stall at the resistance side of the channel. I expect a pullback to around the 38.2% fibo level at about 8400.
Stoch and RSI are signaling a clear buy signal now, and if and when the re-test of support in the light blue trend line holds, we are going on back up, if it does not, then I can see the dark blue trend being our more 'normal' trend with, hopefully, less irrational people trying to catch a rapid rise.
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