PCOMP following a downward channel. Planning for an exit?

Our index is following a downward channel. In our 2-year daily chart we see a pattern where lower lows hit a Fibonacci Retracement level and if we will follow this pattern, our next lower low (in case price will not break from the upper slope) will be at 61.8% Fibonacci Retracement level which is somewhere around 5,100. Currently our index is somewhere between the upper and lower slope.

We can also see a pattern at the upper slope. See how the spikes reach the upper slope and at the same time hit a fibonacci retracement level? If this pattern will continue then you know where the next spike will reach before retracing… or maybe we will get lucky for a breakout. Your guess is as good as mine.


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