DOT - Possible short-term recovery
DOT has been in a corrective pattern for 2 months, and my primary scenario considers this is a flat correction (green ABC).
If the top trendline is broken, I´ll look for trades targeting the following levels (yellow boxes):
- 8.45 (recent resistance and 38.8% pullback)
- 9.75 (minimum level for a flat and 61.8% pullback)
- 11.22 (major resistance and 88.6% pullback)
- 13.13 (123.6% pullback, which is a typical level for flats)