We can see there there is strong resistance at the 10K level. This is a psychological barrier for most. Both on the buy and sell side of things.
Give consideration that the mass population enjoys to sell at even numbers and its no surprise that we find ourselves looking for support. It would be my guess that if we attempt again and fail we are looking at a full retrace of 100% from the high to the low. We'll see whats in store for us the next few days here.
Once we hit 11K its off to the races, but I don't expect it to go much lower than the Gann Fan support for a low. unless something monumental happens. Stay tuned.
Give consideration that the mass population enjoys to sell at even numbers and its no surprise that we find ourselves looking for support. It would be my guess that if we attempt again and fail we are looking at a full retrace of 100% from the high to the low. We'll see whats in store for us the next few days here.
Once we hit 11K its off to the races, but I don't expect it to go much lower than the Gann Fan support for a low. unless something monumental happens. Stay tuned.