The Bulls Are Still Fighting
But sooner or later we must retest that support from the February 6k dip which is now around 6600 if you consider it a diagonal. It looks like we just finished an ABCDE corrective pattern forming a symmetric triangle. I give it a higher probability of breaking down than up as we are in a downtrend and longer timeframe indicators look pretty bearish . The move down would complete the 5th wave of the higher order ABC correction and it has to be said that it could be extended or truncated. That could let it end around the 7270-7130 area or it could reach down to the 6k range (possibily lower if panic selling sets in, but we have to see). For now 6600 looks like the reasonable middle that would leave the bigger trend intact. #BTFD!
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