The market reverses. If we look at the daily chart, we are going to get a reversal candlestick pattern. For this, the close price of the daily candle should be not far from the current rates. RSI and MACD histogram confirm the price reversal. In spite of bullish DMI, ADX line falls, and it tells us that bulls are not so strong now. There is only one local support at 1310.00 which can hold the market. But if the price breaks it, we should be ready to see the falling to the lower support zone formed by SMA50 and the uptrend line. If the price continues falling and can pass this zone, the next important level will be at 1300.00 support. This correction can be used for searching for possible buy opportunities based on reversal signals.
Mr. Lavrov, thanks, I have learned, and made money too. Similar to your work on crypto, I would appreciate if you could take a look at the medical marijuana market. I understand if you have reservations about this but the market is similar to crypto in volatility and investor interest and therefore, good opportunities to learn and earn. These are some of the popular symbols. TRLY CRON CGC ACB XXII IIPR MMNFF APHA CRBP CVSI TGODF WDDMF EMHTF
DLavrov
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@stevenbowler, hi, thanks for your comment and the list of markets! I will do some market overviews for them.
stevenbowler
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Thanks again.
TradingShot
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Bounced on the support. Still bullish. 1345 is the target.
DLavrov
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@TradingShot, Support could stop the market. It worked as it should be.
DataPatron
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Have you noticed those pumps and dumps between indexes and gold? Looks like "deep pockets" money do not know where to park these days ;)
DLavrov
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@DataPatron, I don't focus on FA. I just use a market with TA to understand possible market movement and trading opportunities.
Narcisse
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Bear flag on gold.
Buckz
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properly aiming for the 200ema on the 4hr chart before heading north.