We have lost the turquoise Chanel, and are now testing previous bottoms (indicated by the blue lines).
I believe this yellow channel is the prominent momentum right now, and we could see some significant downside movement (320 or even 300) if the blue lines don't hold.
It is also interesting to see that the volatility index VIX is near an all time low... that always gives me a feeling of "the calm before the storm".
A lot of downward pressure this week... we may see some selling volume going into the weekend if people are feeling less enthusiastic / more fearful.
Good luck today!
I believe this yellow channel is the prominent momentum right now, and we could see some significant downside movement (320 or even 300) if the blue lines don't hold.
It is also interesting to see that the volatility index VIX is near an all time low... that always gives me a feeling of "the calm before the storm".
A lot of downward pressure this week... we may see some selling volume going into the weekend if people are feeling less enthusiastic / more fearful.
Good luck today!