See chart
Note
Seems that 38.2 could not cope with the falling of the stock markets, the strong USD and the weak inventory reports. It is likely it will visit the 50 % level at about 45.3. But the bigger the fall, the bigger the next leg up.Note
It turned at day 10. The cycle corrected to about the 61.8 retracement - indicating a quite bearish stance due to bad reports, strong dollar and correction in the markets.
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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.