From first glance it is not difficult to recognize that the market has been bearish for quite some time now. Looking on the far left we can see that as the market was on its way up it was met with a Resistance, but inevitably broke through it. A year and couple of months later the market has returned to the level again. Currently looking for a bounce of this support, because it is highly probable that where the market met with Resistance previously, might become present support ( Support & Resistance switchover)
Market moves : currently no trade, waiting for the monthly candle to close. If the monthly candle closes bullish ,that would solicit a reversal. If the market was to close bearish, that would solicit a continuation in the bearish side. Waiting for this month's candle to close for confirmation on market direction. We will check it out again next month.
If the market can break the Resistance forming @ 1275 with momentum, that would be one of the first signs of a reversal.
Market moves : currently no trade, waiting for the monthly candle to close. If the monthly candle closes bullish ,that would solicit a reversal. If the market was to close bearish, that would solicit a continuation in the bearish side. Waiting for this month's candle to close for confirmation on market direction. We will check it out again next month.
If the market can break the Resistance forming @ 1275 with momentum, that would be one of the first signs of a reversal.