Nice bounce at the 6k area with substantial volume. Looking for a close over 8400 as confirmation, ideally via a bullish engulfing candle on the daily. Alternatively, if we cannot close above 8400, next target to the downside is the 5k area.
Bullish scenario: V-recovery, daily close over 8400, follow-through volume
Bearish scenario: Unable to close over 8400, possible triangle consolidation or bearish Gartley at current levels with continuation to the downside. Target 5k.
Bullish scenario: V-recovery, daily close over 8400, follow-through volume
Bearish scenario: Unable to close over 8400, possible triangle consolidation or bearish Gartley at current levels with continuation to the downside. Target 5k.