Major resistance is currently at ~$410. I would be astounded if that support is taken out anytime soon, or at least before testing the bottom.
I suspect something like a test of 'the bottom', a breach of the 38.2$ retrace, but a fail around $410, a test and fail of the 'the bottom', and fall into the Monster Support zone around $310-$320 (the highs right through 2015, and big support zone in Nov 2015), which will be the real and final bottom.
I suspect something like a test of 'the bottom', a breach of the 38.2$ retrace, but a fail around $410, a test and fail of the 'the bottom', and fall into the Monster Support zone around $310-$320 (the highs right through 2015, and big support zone in Nov 2015), which will be the real and final bottom.