Last week was a weak sell signal, but a large tail which is a sign of bull profit taking after testing the start of the . The bulls need a strong breakout above here and the all time high for a bull trend case. Even if there is bull continuation, there will likely be profit taking at the all time high, forming a larger trading range. More likely, prices will go mostly sideways to down for the next few weeks to months, where the bulls will try to form a higher low and larger second leg up. The most obvious prices for a higher low are 7600 micro / failed bear reversal and the 6200 bull gap.
If instead the bears get a strong reversal soon with good follow through, and fill the bull gaps; prices will likely test the 4000 level and the bottom of the developing trading range.
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