CDT Chart, page-3559

Hi guys, now that support at .021 has broken down, we unfortunately need to look at lower support levels as most indications are showing a lower SP as incoming.
Below is a weekly chart and that shaded zone is an area of support. How far it eats into that is anyone's guesstimate.



So coming back to the daily, what was support now becomes resistance therefore .021 becomes the first higher target and will also be gap filling when tagged.
Still a while to go before it's technically oversold so you sure wouldn't want to even think about picking the bottom. Just let it fall and when the SP reverses, the indicators will let you know a safe entry for those interested. There was some solid volume in that sell off creating a nervous environment so see how this week goes to settle the dust and give a direction.

I think you're looking for the SP to close above that yellow 8ema to give the first hint of a reversal.

Cheers



All just my opinion and certainly not financial advice.