We are near a zone that is the previous week's high, almost this week's high, monthly high, and an area that started an impulsive reversal on the daily timeframe.
Last week it kept on reversing from these levels. A possibly, the latest rather slow approach can signify weakness.
I expect the market to move significantly in the downside direction. However, one more fakeout should be expected. Makers love to take stops out before crashing the market.
Last week it kept on reversing from these levels. A possibly, the latest rather slow approach can signify weakness.
I expect the market to move significantly in the downside direction. However, one more fakeout should be expected. Makers love to take stops out before crashing the market.