Clear bear breaks across many individual names last night as we are heading back towards weekly supports.
Bulls must hold the weekly higher lows in order to have a chance for the longer term trend change.
Clear bear volume and the only nearby support is the low of the dump a week ago.
Now we are back to the "Zoom Game" Looking at hourly EMA 12/26 resistances as the first hurdle.
Turn them into support and we zoom out to the 4 hour to watch the same resistances.
Bears in full control and watching for 4 hour oversold bounces to result in lower highs.
Patient traders are waiting for clarity on the longer term charts. Bears remain comfortably in control.
Bulls must hold the weekly higher lows in order to have a chance for the longer term trend change.
Clear bear volume and the only nearby support is the low of the dump a week ago.
Now we are back to the "Zoom Game" Looking at hourly EMA 12/26 resistances as the first hurdle.
Turn them into support and we zoom out to the 4 hour to watch the same resistances.
Bears in full control and watching for 4 hour oversold bounces to result in lower highs.
Patient traders are waiting for clarity on the longer term charts. Bears remain comfortably in control.
Checkout our full trading resources online www.chartguys.com
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social