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Good evening, traders.
Well yesterday I was worried that our persistent seller in that gap above us was going to cause our ascending triangle to fail, and that’s sure enough what this looks like now:
That sure looks like a failed bullish structure to me.
From here, if bears can keep things up, I would like to see something like this:
What the bulls will need to do is give us an enormous rally, back up into and then through that gap that’s been left open above us. I can’t rule that out until we go a lot lower, so I will remain open to it as a possibility! But so far it doesn’t look so good!
I hope everyone has a lovely evening.