On the monthly chart, you can see a big bearish divergence (the blue and red arrows).
That could give a good correction till the 200EMA (around 1350-1400)
If we take the measurement from 2008, we had a correction of -33%.
If we do this from the ATH to the 200EMA also we have a -33% (just a thought to keep in mind)
Also there's a trendline.
When and IF we will get there, that will be the push for the next leg up (IMO)
Kind regards
That could give a good correction till the 200EMA (around 1350-1400)
If we take the measurement from 2008, we had a correction of -33%.
If we do this from the ATH to the 200EMA also we have a -33% (just a thought to keep in mind)
Also there's a trendline.
When and IF we will get there, that will be the push for the next leg up (IMO)
Kind regards