Short-Term Bounce based on Weekly Low = 6850
Went long from 7000 yesterday, and this was at 7048 at time of creation.
The pattern is that after every red weekly candle, the following weekly candle penetrates significantly above the low point of the previous weekly candle at some point - minimum of 6% upside. The larger the % variation of the red candle, the higher potential upside exists in the following week's candle (0.76 R^2)
This would suggest that - next week - the price levels will at some point achieve 7261 (6%) at a minimum and potentially higher than 7535 (10%).
The pattern is that after every red weekly candle, the following weekly candle penetrates significantly above the low point of the previous weekly candle at some point - minimum of 6% upside. The larger the % variation of the red candle, the higher potential upside exists in the following week's candle (0.76 R^2)
This would suggest that - next week - the price levels will at some point achieve 7261 (6%) at a minimum and potentially higher than 7535 (10%).
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Long entry from yesterday: imgur.com/gallery/dbfBQmz
