We have been discussing about a crash of 5% or more in a single day this week and there were many views that the crash is more likely to happen before the election results are out.
It looks like today is the day and coincidentally all other asian markets are also supporting that.
Now what was the confirmation yesterday. The near vertical fall from 3700 levels to 3630 levels happened before we could blink our eyes and then it didnt delibelately crash further. So all the longs at 3700 were all struck by panic and very few would have the guts to take the loss at markets and come out.
This concludes that there are so many longs trapped and yesterday's move just made the last of the bear turn into a bull as 3700 level is retested every two days.
Now it is all set to move further down to 3585, 3535 and break even that and move to much lower levels of 3480, 3444.
Resistance levels : 3650, 3667
Support levels : 3585, 3535, 3480, 3444
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Happy Tradingwww.tripleint.com
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