On 26 August 2020,
$XJO was at 6161 and I said we will pull back to the moving averages and a big breakout will come...
The 2 day chart have shown us we have broke down to the down side.
This week, I said we need to close above 5836 on the weekly to stay bullish.
We did that.
However, it is not over yet.
The 2 day candlesticks DID NOT CLOSE this week, it will close next Monday and start a new candlestick on Tuesday 22/09/2020.
Furthermore, we have closed below all three moving averages 20,50,200 and from the past more downside will come in the coming days/weeks.
Therefore,
Monday will be a very important trading day,
Long - Close above 5919
Short - Close below 5836
If close below 5836, the 0.50 Fibonacci Retracement level is my next support....
$XJO was at 6161 and I said we will pull back to the moving averages and a big breakout will come...
The 2 day chart have shown us we have broke down to the down side.
This week, I said we need to close above 5836 on the weekly to stay bullish.
We did that.
However, it is not over yet.
The 2 day candlesticks DID NOT CLOSE this week, it will close next Monday and start a new candlestick on Tuesday 22/09/2020.
Furthermore, we have closed below all three moving averages 20,50,200 and from the past more downside will come in the coming days/weeks.
Therefore,
Monday will be a very important trading day,
Long - Close above 5919
Short - Close below 5836
If close below 5836, the 0.50 Fibonacci Retracement level is my next support....
