Action presently hovering around fib and ma supports
the latest breakdown from the trading range confirmed by volumes, might be in every possibility phase e / markdown of presumed distribution in the trading range
but the rapid upthrust on volumes from the present lows yesterday, showed demand still exists at this level, and it was a full 5 wave impulse
although it lost all the gains subsequently, but failure to break to new lows, would change the analysis towards a phase c of a possible reaccumualtion, undergoing rapid shakeouts..
todays, price action will be very crucial for any further analysis
My bias is towards the bullish side, but i will have to see what the market does in the initial hours, based on the presence of supports.
disclaimer.... not an investing/trading recommendation
the latest breakdown from the trading range confirmed by volumes, might be in every possibility phase e / markdown of presumed distribution in the trading range
but the rapid upthrust on volumes from the present lows yesterday, showed demand still exists at this level, and it was a full 5 wave impulse
although it lost all the gains subsequently, but failure to break to new lows, would change the analysis towards a phase c of a possible reaccumualtion, undergoing rapid shakeouts..
todays, price action will be very crucial for any further analysis
My bias is towards the bullish side, but i will have to see what the market does in the initial hours, based on the presence of supports.
disclaimer.... not an investing/trading recommendation