After the succesfull test of the 2015 Nov IC Top and the hourly 50 EMA at 1190 we had a testback to the hourly 50 EMA.
Next level is 1180 .
The hourly 300 EMA and the 61,8% Fibonacci retracement on the daily chart is at 1180.
It's still not the daily cycle low. So don't try to buy. More pain is coming....
I will try to sign the exact daily cycle low, which is coming next week .
I still think we are in a bull market and this is the first bull market countertrend rally.
We are waiting for the second leg up to 1300-1350.
Next level is 1180 .
The hourly 300 EMA and the 61,8% Fibonacci retracement on the daily chart is at 1180.
It's still not the daily cycle low. So don't try to buy. More pain is coming....
I will try to sign the exact daily cycle low, which is coming next week .
I still think we are in a bull market and this is the first bull market countertrend rally.
We are waiting for the second leg up to 1300-1350.