No, I'm expecting a bounce off the 89 weeks WMA which is currently @ $5150. And the lowest point before the current bounce was $ 5816 (my data feed). Usually it is much more exact and close to the WMAs. Having said that, it looks like the market is bottoming out.
At this point of time there's no technical evidence of a potential reversal. We should first see how strong the bounce is going to be.
are you talking about this bounce?
No, I'm expecting a bounce off the 89 weeks WMA which is currently @ $5150. And the lowest point before the current bounce was $ 5816 (my data feed). Usually it is much more exact and close to the WMAs. Having said that, it looks like the market is bottoming out.