Inverse head and shoulders potentially being made on the short term chart. Trend line, .5 fib retrace and 50ma coming into confluence in circled zone.
Komen:
target if proper break/continuation achieved
Komen:
Key area first
Komen:
200DMA in the vicinity
Komen:
big volume in this key resistance area
Komen:
Remember the correlation (inverse vix)
Komen:
Similarities with sept 2017 crash
Komen:
?
Komen:
Komen:
So right shoulder held nicely to that support. Now testing neckline + .764 fib retrace & R1 in area.
Komen:
Finally going to break this .764 retrace + double top (r1 level).
Longer term target is back to 100DMA up @~$11600.
Longer term target is back to 100DMA up @~$11600.
Komen:
pivot & .5 fib off 1st wave
Komen:
New pivot points & R1 and the .5 fib retrace will still be the level to push through with wave 2 potentially in place
Komen:
Inverse H&S to push us to test ~$9k again?
Komen:
Shorter term ^ will be battling this 4h H&S
Komen:
Back to the 200dma
Komen:
Same thing. This 9k level needs to be broken
