On the weekly chart this one is making double top and is long overdue for a correction. A simple .382 would take her down to around 700 from the last significant swing low in Jan 2016. From the 2014 well-tested base, the .382 is around 627.
So yes,if it goes back and fills that recent gap, then if stalls around 820 S/R level, then first move down in this time-frame to 780 S/R level (two old highs) is in the cards.
Devise2Day
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@CaperAsh, :agree:
790$-815$ need to be defend - also while february`17.
So bulls can rise up in march (even upside of 790$-815$)!?
Best regards!
Aaron
So yes,if it goes back and fills that recent gap, then if stalls around 820 S/R level, then first move down in this time-frame to 780 S/R level (two old highs) is in the cards.