Anything is possible. Support can appear to be broken decisively and the very next day the market will come screaming back and keep on going. Or not. That is where technical analysis of the short-term charts plays such a vital role. Those charts (the hourly, 15-minute and even the 5-minute charts will usually show you where they market is going in the short-term. It really does not pay to try to second guess the market. Just watch what it's telling you about price and volume behavior and trade on the side of the smart money who know things you will only read about in the news after it's too late to do anything about it.
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