What we just saw was a short covering rally that triggered a lot of stop losses from the bear side. It overextended to reach 300 again to test the main support resistance level. The only way to know this will actually reverse is by retesting the support below the 250 levels. So it's not still time to celebrate. Best case scenario, it will go back to 250-220 levels, retest the support and go for another try to break 300. Worst case scenario it will break the 200 level and go to retest the 180 levels.
So far since September 2017 it has been doing lower lows and lower highs and until that pattern changes we're in a bearish market with very wild correction cycles.
So far since September 2017 it has been doing lower lows and lower highs and until that pattern changes we're in a bearish market with very wild correction cycles.