A retrace or a EXtended zig zag
Updated
Using the zig zag ALgorithm we can see either a retrace or an extended leg down. the extended one should take us to 272. but i dont think that would happen because the other indicators are way oversold and it needs strong volume to beat that 278-279 support. i dont think futures would break it either, so i expect a retrace to the 293 area in the coming days. . if tomorrow we break that 278 support sell and re buy at 272.
Note
I think the first scenario wont play out.Note
i miss calculated the first target down ,at 276 but now the Algorith should take it to 290-291.
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