In our last major update on March 13, I noted that DX was approaching the 61.8% retracement of the drop from 2001 to 2008 and two key channel lines, writing at the time:
The white .618 intersects with two major channel lines… Should DX punch through, there’s much more upside. Otherwise, look for a correction in the very near future.
As fate would have it, March 13 itself was the high. DX didn’t go on up and tag the .618. Instead, it has been forming a slightly falling sideways pattern that would qualify as a flag pattern if it would zip up and tag the potential upper bound.
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