Tactical retracement is a next step

Morning everybody,

So, our first target of 12,4K mostly is done and market stands at solid resistsance now - major 5/8 Fib level, daily overbought (blue line) and Agreement as upside 1.618 AB-CD is hit. (for those who familiar with DiNapoli technique - in fact we have DiNapoli bearish "Stretch" and Kibby trade setups at once).

In such sircumstances odds suggest a pullback. There are two Fib support levels that we intend to keep an eye on - 11K which is 3/8 and 10.3K of 5/8 Fib supports.

As usual, on intraday charts we're watching for AB-CD shape down, to identify where particular retracement will be over and "222" Buy pattern will appear.

Once technical retracement will be done - our next target is 15.3K, as we've discussed in our longer-term view previously. Currently we do not consider any bearish trades as they are too small for our updates and mostly watching for bullish setups. But it is not forbidden to make scalp shorts of course...