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Support in the 7700 area

622
Confluence of fib 0.618...0.764 retrace zone and 1.618 of technical analysis tools.
Note
Temporary(?) bottom found at 8400. Likely, a bounce targeting to 10000.
snapshot
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Above 10000 targeting to 10700
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One more move down, targeting to the 7700...7300 area.
snapshot
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A move down is close to the bottom or already bottom at 7650.
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Elliott Waves technical analysis. A drop below 7000 mean bad news - opening way to attack 6000 support.
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Likely, pattern 1-2-3-4-5 completed. The move above 8500 opens way to 10000 high.
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Now need to break up 8650 to confirm the intention to continue rise up.
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Trend AnalysisWave Analysis
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Related publications

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.