I have identified a support and resistance line which is driving the market in a downtrend. If the market hits the resistance level, it is likely to reverse. Upon the reversal, the market will shoot down into section B and then consolidate within section B. After the consolidation, the market will then shoot up into section A and might continue upward. However, if the market fails to consolidate in section B, it will continue down into section C and then move down to the support level.
This information is for educational purposes only and should not be taken as any sort of investment advice.