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We are at the bottom of the bear channel, also every down day sees a rally back towards the top, so I would expect to see us rally back towards 4030 tomorrow.
Looking now I believe that the channel could break down touch the 100 SMA and then snap back into a rally. I believe that a BO to the downside would trigger a channel reversal and could break the bear channel we are in.
We have now rallied back into the channel. Each break out of the channel has saw a large over-correction in the opposite direction. So, I am looking for 4050's. But there are areas before that, that could be resistance.
