MA 7 breaking down bellow the MA 25 on the 1 week chart. Could see this continue to fall with the potential Elliott wave that is occurring.
If this occurs, we could see this long term uptrend support be tested, and potentially broken, allowing the evaluation to catch up with the 200 MA at 1300.
Only time will tell, but the market is looking ready for a heavy correction.
If this occurs, we could see this long term uptrend support be tested, and potentially broken, allowing the evaluation to catch up with the 200 MA at 1300.
Only time will tell, but the market is looking ready for a heavy correction.