It should test the neckline again at least. From there it's anyone's guess, but I'm leaning bearish. September Trip witch is right around the corner and the market pivoted down right at August Monthly expiry. Perhaps it slides into Trip Witch and bounces out. Should be another inflection point either way.
Note
It could possibly bounce to 50% retrace and still make the right shoulderTrade closed: target reached
I closed my short yesterday and went long. However, I think we see some more bear next week. There's bullish divergence on the stoch bottoms and engulfing 4hr candle. Daily is a Doji Dragonfly. Should see a shallow pullback for open or this plot guess is invalid.
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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.