Quote from: MahaRamana on June 14, 2014, 02:22:01 PM

Quote from: zimmah on June 14, 2014, 02:02:32 PM

Downtrend or not, how low do oyu seriously think it will go?

I think $550 is as low as it gets. And even that was much lower than i ever expected it to be.

Looking at the selling pressure today, I really would not rule out breaking 550. We might very well test the green support line that pftq was drawing a few posts ago. It is currently around 520. If 520 would not hold, there is not much technical support until 440.

But I hope 550 holds fine and we rebound now.

While $550 seems the "right" value for the correction, I guess the downtrend will continue until the auction closes so it can break the $500 line before rebound