The last 2 moves have ended at the .786 extension of the prior move in their direction. If this trend continues we will see a false breakout below the descending triangle before a large market turn around to the upside. ~$5200 is the target.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.