Strong breakout of triangle formation, more downside expected

21 Eyl 2016

Expecting price to move more downwards within the bigger falling wedge of the weekly channel (purple).

22 Eyl 2016

Not

Consolidation. More downside ahead with strong resistance above at fib 0.382 correlating nicely with the lower leg of the triangle above.

22 Eyl 2016

Not

Long term perspective. First interesting zone on above chart is 11.50-11.10, which is the fib 1.1618 (golden mean) and possible end of wave 3 on my proposed impulsive wave pattern.