This would have us going dow to $9200 and turning bullish. With the sentiment of us dropping hard, this seems like a reasonable play. This would also complete the inverse head and shoulders.
Signs point up at this point. 12.7K would be a reasonable first target.
Comment
Rephrasing: It would not complete the inverse H&S but rather be the bottom of the right shoulder.
Additionally, solidly breaching the red trendline would be a very bullish sign.
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.