Those that believe we are going a lot lower this month need to watch for this scenario potentially unfolding.
Within the next 48 hours we will probably drop down to ~6750. At this point it may be worth looking at the candles on the 4h. If they start to look like the candles in Exhibit 1, it will be worth considering the possibility that a new bull market is beginning.
As mentioned in my last chart, the 50 day MA and 200 day MA are looking bullish.
If the bear market is to continue we can still expect some resistance at this level due to it being crucial to determining where the market is heading.
This is not financial advice. User "eloquentplatypus" accepts no liability for any financial losses due to the information provided.
Within the next 48 hours we will probably drop down to ~6750. At this point it may be worth looking at the candles on the 4h. If they start to look like the candles in Exhibit 1, it will be worth considering the possibility that a new bull market is beginning.
As mentioned in my last chart, the 50 day MA and 200 day MA are looking bullish.
If the bear market is to continue we can still expect some resistance at this level due to it being crucial to determining where the market is heading.
This is not financial advice. User "eloquentplatypus" accepts no liability for any financial losses due to the information provided.
Comment:
I just want to point out as I stated in my previous chart, I do not believe that we are beginning a bull market and that a bear market trend will continue for now.
