Not the best sign as we break below long-term trendline with lows around 1050.
A buffer was added for better accuracy of this rejection and indicates how the upper limit intersected support and lower limit acts as new resistance.
A dotted line was also added to show an estimated 'extreme' and current support.
It seems that we still have a chance at short-term recovery if we can make it back into pattern before late-July (~7/20).
Alternatively, we could form another recovery through an extended second bottom (dotted) with a low of 900-950 although I'm not actually sure if this would be valid.
A buffer was added for better accuracy of this rejection and indicates how the upper limit intersected support and lower limit acts as new resistance.
A dotted line was also added to show an estimated 'extreme' and current support.
It seems that we still have a chance at short-term recovery if we can make it back into pattern before late-July (~7/20).
Alternatively, we could form another recovery through an extended second bottom (dotted) with a low of 900-950 although I'm not actually sure if this would be valid.
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