Some Thoughts
I outlined 2 different ways of drawing your support wicks, one from the very tip and the other from the close. Regardless of how it is drawn the support has been broken momentarily. What does this mean? When a support is broken it becomes a new resistance.
Currently expect 2 scenarios (similar movements as what we saw before and after Christmas), one move to 7.3 resistance and a shot back to 7.1, OR a move to 7.4 and drawback to 7.3 before a drop to 7.1 area to be followed with more analysis but we should see mid 6k by at least mid January. That is my current outlook and prediction. See you all in 2020.
Currently expect 2 scenarios (similar movements as what we saw before and after Christmas), one move to 7.3 resistance and a shot back to 7.1, OR a move to 7.4 and drawback to 7.3 before a drop to 7.1 area to be followed with more analysis but we should see mid 6k by at least mid January. That is my current outlook and prediction. See you all in 2020.
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