Assuming our move from the low at 28800 was an ABC, which has some evidence supporting it, we might head towards a lower target in the near future.
Note
Currently we got support at 32000 and a retracement to our local 0.5 Fibonacci and the 4hr emas, A rejection that unfolds here would then lead to us reaching the local lows again, breaking them is the final confirmation of this downtrend and would give us next targets of around 30k (green box)
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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.