This method gives a strikingly clear picture of price trends and of price support and resistance levels. The next support level below that — where the negative “o’s” turned into positive “x’s” — is suggested by this chart as 2350. A drop to the up trending blue line would make it to 8250. A drop to the previous level of significant buying — where the “o’s” became “x’s” — would find its way to 7750. If selling took this index to that support, the drop would amount to about 52%.

Source: Forbes February 23, 2020 19:57 UTC