NN may be right , because Everyone is thinking the same, as they see the templates from Aug/ Sept 2015 , and Jan / Feb 2016 , and those two periods combine on a bigger fractal for another “ W” , but....is there any rule that says it’s the way it has to go ?
As stated, “ history doesn’t repeat itself, but it does rhyme”
NN has a good point on perhaps further drop first , because weekly oscillators no where near OS , in fact , somehow they are just barely out of OB in Slow.
But, daily are at low levels only bested by Aug 2015 and only by a smidge . Also , RSI HAS THE FASTEST , Biggest % drop ever on both daily and weekly . So, perhaps a sudden move back toward OB (?272-274 ? ) over this next week on daily oscillators , then the nerves show for another test of the high 260s ?
But I also expect the two gaps above in the fractal to fill before any major drops below recent lows.
That said , in 2000 , there was a gap left at the top , which stayed until 2007 .
So, rather merky. Daily oscillators say we see a quick move up , but weekly oscillators day we have lower : slower to go (?)
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