US500 looking for downside continuation after yesterday's inflation rate and new rate hikes coming on next week. Safe entry after break below structure or 3900 level. Targeting pre covid highs.
This is unlikely, we may drop straight to 3600 but bounce up from 3600 to see if that major support holds, that will also form double bottom and momentum would be overextended to downside. If that support does not hold and reversal gets rejected - then we continue down, more likely next major support will be around 3200