As we Approach the 4307.50 target, a Reminder Seems Appropriate

I’ve written about price heading to the mid 4200’s to low 4300’s for a while now. By my count, I’ve written a total of 4 times just in the month of September.

Links below:
Sept 15

Sept 14

Sept 8

Sept 2

The target moved up slightly following the Sept contract change to Dec from 4256 to 4307.50. As the analysis changed, I adjusted my targets. But I must be honest, this has been a difficult pattern to trade so far up till today.

From an educational standpoint, yes, I found some silver linings. Ones in which I feel will end up working in my favor in the future. However, I didn’t decide to write this article to announce to my followers how great of an analyst I am.

I did so to issue a reminder.

When price does finally come into the 4307.50 area…if we bounce impulsively higher in a 5-wave pattern, we may complete an abc correction to the downside and rally for the remainder of 2023.

However, if we breach 4307.50 to the downside for a sustained period of time, and price continues to move through the 4250 level. That is our first big clue (NOT CONFIRMATION) that we’re headed to 3200-3300 MINIMUM IN early to mid 2024...

Just a friendly reminder.

Best to all,

Chris