At this moment we are in bear territory after the 60K top that i predicted.
The pattern formed around 60K is a classic rounded top.
We are below the 200 day ma for a couple of weeks, which has crossed with the 50.
We will probably zig zag down to the 200 weekly Ma, to find solid support for possibly a bullish breakout.
The more bearish scenario of the elliot irregular flat correction pattern is still open for me also, i will be looking at the action around the 200 weekly ma.
The pattern formed around 60K is a classic rounded top.
We are below the 200 day ma for a couple of weeks, which has crossed with the 50.
We will probably zig zag down to the 200 weekly Ma, to find solid support for possibly a bullish breakout.
The more bearish scenario of the elliot irregular flat correction pattern is still open for me also, i will be looking at the action around the 200 weekly ma.
