We're gradually moving up from the support fan of the current low from June 18, 2022 (refer to the analysis from June 22). The next major psychological resistance will be met on September 10; if it pushes us below the support fan, it would trigger a correspondingly strong movement downward. This psychological resistance is the outer ring of the superior highly volatile area.
Both the inner and the outer rings are thus the determining factors for an upcoming correction in September.
The support fan, currently at 19,267, provides us with an optimal starting point, indicating when a correction could come into effect.
Should this fan be breached, according to Gann's rules, the following targets would be opened.
If the psychological resistance is breached with a sideways movement above the fan line, the following targets arise.
Therefore, for the subsequent period, this price range would open up, with an end point for the trend reversal on March 1, 2023.
Until the next analysis or TA Night Show, take care.
