Today's decline wasn't as bad as I expected. Too much energy was spent of the small upward rally.
Today, I am showing the smaller chart pattern, as it is more recent and hence relevant. As you can see, it has broken down convincingly with a minimum target of 4680. Recent price action (on 8th Feb) has left a foot mark at 4667. Hence any breach of this level could be a threat to the 200 DMA.
However, a Body Line attack can be expected in a couple of days. We cannot rule out that possibility for tomorrow, as the swing velocity in the last couple of hours was much higher than the "Smiling face' shown during morning hours. So get ready…
