The bullish momentum appears to have run out of steam near as weekly candles have repeatedly failed near 19,600 levels since late December.
We also have a bearish 5-DMA and 10-DMA cross over on the weekly
The MACD has turned bearish as well.
Hence, Monday's open below 5-MA level would open doors for a test of the rising trend line support around 18,600.
On the higher side, only a daily close above 19,600 would signal continuation of the rally.
We also have a bearish 5-DMA and 10-DMA cross over on the weekly
The MACD has turned bearish as well.
Hence, Monday's open below 5-MA level would open doors for a test of the rising trend line support around 18,600.
On the higher side, only a daily close above 19,600 would signal continuation of the rally.
