It may have taken many of us by surprise but from a technical perspective it has created a well know reversal pattern, the (IH&S). As you see the 1W MA100 has also come to rescue (red trend-line), so we have to keep an eye for a closing above that level to sustain a rebound. That should be initially towards the 1834.50 Resistance/ neckline and if the pattern holds technically, it should break it.
Which scenario do you think is more likely?
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