After PMI data came out bad we still held above channel, price sitting on new higher low point, no break of structure, consider new higher high to be formed at 1600 resistance
price having failed to close above 1562.40 over past few weeks could now break upwards to 1565 and a potential retest before continuing upwards (setup only valid if price breaks resistance)
bull steam of dow looks to be at its end as we fill up daily consolidation, a huge break downwards in coming weeks is something to look forward to with last daily candle closing engulfing.
