All previous oversold conditions results in a 0.5, 0.618 or 0.786 recovery within 10 trading days. All scenarios show a recovery to 3180-3200, and then fades. Only Dec 18 shows further lows below 2850.
So for now the path is clear. It seems very unlikely that the Dec 18 option will play out.
So for now the path is clear. It seems very unlikely that the Dec 18 option will play out.
David Atherton