Updated
W-shape recovery - horizontal channel scenarios
Oh my, so many questions... let's beginn on thursday: I think that if we see a rebound early in the day, it might hold up to form this beautiful 'W' shape -OR- it breaks out completely ON. A. FRIDAY. But this might be just too far fetched these days.. IF the 'W' forms though, this gives at least somewhat of a ground. Will be tested next week then -.-
If the W does not form on thursday morning, we'll see anew low in a downwards channel (idea linked)
If the W does not form on thursday morning, we'll see anew low in a downwards channel (idea linked)
Note
Update: We toched bottom and for now it seems to hold. Sentiment is very bad, but I still think that the 'W' is possible. It will all be clear in 3 hrs ;-)Note
Ok, we at least tried to form a 'W'. The night and friday will show, if we can reach up to 12500 again (possibly before dropping again)- 11700 seem to be rather solid. I think it will get challanged again soon, but since bears seem to lose possibilities to re-enter, this might lead to another rally to test the channel at it's upper limit
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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.