TUES 60min
Here is where the market was sitting at the nd of our discussion. Continue to wait for break of purple s/t zone; or another potential bounce to resistances.
BIAS is for more down - large sideways consolidation could be coming to an end - high probability of another significant drop, continuing the larger expanding wedge pattern on the 240.
240
Expanding wedge: We could expect a drop similar as the first two that can be seen inside the wedge. Note the second drop is larger than the 1st, the next could be larger again.
IF support is found at purple s/r and pattern breaks to the up-side, then we could see a significant lift as the market continues the previous up trend. (Less likely scenario)
WED 19th Morning: 8am
Resistance at purple s/r zone can be seen, then a drop overnight that hits an HPTZ on the way down. Watching for next support / consolidation at significant technicals / Fib levels.
