It Was Nothing But A Correction In An Aggressive Bearish Trend

29 mars 2020

As the descending channel suggests, last week's rally was nothing but a correction. This is also confirmed in 5 minutes chart as it broke down the ascending channel. But I don't expect to have huge gaps as it goes down this time due to massive increase in volume for the past two weeks. First resistance level is at 134 and the most important one is 103. If it manages to break out of this channel then this analysis would fail.